The Blockchain group on June 10 Gained the approval of the shareholders To raise more than € 10 billion ($ 11 billion) for extra Bitcoin (BTC) purchases that are immediately in force, formalizing a proposal that was broadcast a day earlier for the first time.
During a normal and extraordinary general meeting, investors supported each resolution with 39% of the voting rights with support of more than 95%, according to a statement on X.
The delegation grants directors the authority to issue equity or other effects and to tap public or private markets without preferential subscription rights.
CEO Jean-Philippe Casadepax soulet said that the mandate “will accelerate our Bitcoin Treasury Company strategy” by increasing the number of BTC-PER share over time on a fully diluted basis.
In addition, shareholders also chose Alexandre Laizet for the board and appointed him vice -chief executive, with responsibility for Bitcoin strategy. His six -year period runs until December 2030.
The authorization increases the ceiling far beyond the facility of € 300 million on the Markt (ATM) The Paris-Gentengep announced on June 9 In collaboration with asset manager Tobam.
This structure enables the blockchain group to sell new shares in discreet tranches at prevailing market prices, in which Tobam acts as the only subscriber. If fully executed, Tobam could acquire up to 39% of the company’s equity.
Shareholder Calculus and Markt Context
The mood follows a period of modest volatility for Bitcoin, which trades from the press of $ 108,937.66, close to the all time of almost $ 112,000.
Company appetite for reserves with hard assets has surpassed the price action. European companies largely avoided large-scale crypto balance movements to approve the markets in crypto-assets (MICA) of this year, which delete the custody and disclosure standards for digital assets.
Board members said investors that authorization offers flexibility to respond quickly when the market conditions present compelling access points.
The approved instruments include ordinary shares, preference shares, warrants and convertible bonds, so that the Treasury team can align financing costs to market demand.
Balance already has 1,471 BTC
The Corporate Treasury program started at the beginning of June, when the Blockchain Group acquired 624 BTC, with a value of around $ 69 million, which increases participations to 1,471 BTC. The total amount is worth around $ 160 million from the moment of press.
Management is planning to channel the proceeds from the extensive authorization to comparable acquisitions and to position the company as Europe’s most aggressive public buyer of Bitcoin.
In contrast to North -American colleagues such as strategy, the Blockchain Group operates diversified subsidiaries in data intelligence, artificial intelligence advice and decentralized technology development.
Managers frame the Treasury allocation as a supplementary use of excess capital instead of a full pivot to a business model with one asset.
