French Tech Company Ambitious Plan: Raise 10 Billion Euros to Establish Bitcoin Treasury

A French listed technology company recently announced an ambitious plan to raise over 10 billion euros to purchase Bitcoin. The company, named The Blockchain Group, currently holds Bitcoin worth 160 million dollars, but its ambitions are clearly not limited to this.

On June 11, the company listed on the Euronext Paris held a shareholders' meeting, where the core agenda was to significantly enhance the company's financing capabilities to accelerate its "Bitcoin treasury company" strategy. The company's goal is to increase the number of Bitcoins per share on a fully diluted basis.

As early as December 2024, The Blockchain Group secured €2.5 million in funding, attracting the participation of a renowned cryptographer and crypto hacker.

The strategy of The Blockchain Group is based on two core principles: first, issuing shares at a premium based on the stock price during financing, with recent financing premiums between 30% and 70%, aimed at enhancing the interests of existing shareholders; second, adopting a long-term perspective, measuring performance in Bitcoin rather than traditional currencies.

The shareholder meeting not only approved the Bitcoin treasury plan but also appointed Alexandre Laizet as a director of the company for a term of six years. Laizet will be in charge of Bitcoin strategy.

The approved financing instruments include common stock, preferred stock, warrants, and convertible bonds, allowing the company to flexibly adjust its financing strategy according to market demand. The company's management stated that it plans to continue investing the proceeds from this financing into Bitcoin acquisitions, aiming to make the company the most active publicly listed Bitcoin buyer in Europe.

It is worth noting that The Blockchain Group has not always focused on Bitcoin. Until the end of 2023, it was a diversified blockchain technology company with operations in various fields, including media, consulting, and software services. In December 2023, the company underwent significant restructuring, divesting or liquidating some subsidiaries to form a more streamlined and focused new entity.

In November 2024, The Blockchain Group officially transformed into the first Bitcoin treasury company in Europe, adopting a long-term strategy centered on accumulating Bitcoin. Since then, the company has made multiple large-scale purchases of Bitcoin, and as of June 12, it holds a total of 1,471 Bitcoins, valued at $160 million.

The company's future plans are even more ambitious: by 2029, the goal is to hold between 21,000 and 42,000 Bitcoins; by 2033, the goal is to grow to between 170,000 and 260,000 Bitcoins, accounting for about 1% of the fixed supply of Bitcoin. To support this growth, the company plans to expand its capital raising scale from this year's 300 million euros to over 100 billion euros in the early 2030s.

The Bitcoin strategic officer Alexandre Laizet is a former consultant who has served many large companies and financial institutions. He believes that if the U.S. government starts accumulating Bitcoin, it could trigger fundamental changes in the market. He predicts that 2025 will be the year banks "rush into Bitcoin," followed by their customers.

Laizet also pointed out that the best strategy for listed companies at present is to purchase Bitcoin through regulated institutional service providers. He believes that most enterprises make the same mistake when investing in Bitcoin: they only invest a small amount of cash, while The Blockchain Group's model is to continuously increase the number of Bitcoin per share.

Overall, as one of the few publicly listed companies in Europe that has adopted Bitcoin as a core financial strategy, The Blockchain Group is actively promoting its "Bitcoin Treasury Company" positioning. Despite the uncertainties in market performance and the regulatory environment, the company has clarified its development path and attracted the attention of some industry investors. Whether it can achieve its ambitious goals in the future remains to be seen.