The Blockchain Group Buys $69 Million Worth Of Bitcoin

French tech firm completes acquisition of 624 BTC through €60.2 million capital raise and bond issuance. The company reports 1,097.6% BTC Yield year-to-date as European corporations to accelerate Bitcoin treasury adoption.

The Blockchain Group, Europe’s first Bitcoin Treasury Company, has acquired 624 Bitcoin for approximately €60.2 million ($69 million), marking a significant expansion of its Bitcoin holdings through a combination of equity sales and convertible bonds.

According to a press release issued June 3, the Euronext Growth Paris-listed company completed the purchase in two tranches: 80 BTC acquired for €7.7 million through a capital increase, and 544 BTC…

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LATEST: Public Company The Blockchain Group Adds 624 Bitcoin Worth $68M

Paris-based Blockchain Group has purchased 624 Bitcoin worth $68.7 million adding to its growing crypto reserves. This move pushes the company’s total holdings to 1,471 BTC valued at over $154 million. Blockchain Group now claims the title of Europe’s first Bitcoin treasury firm highlighting a 1,097.6% year-to-date yield.

Institutional interest in Bitcoin continues to grow across Europe following the US approval of spot Bitcoin ETFs earlier this year. Interest surged further after President Trump’s executive order in March calling for a national Bitcoin reserve using crypto seized in criminal cases. Major European firms like BNP Paribas, 21Shares, VanEck and Bitpanda have shown similar interest along with the Czech National Bank exploring Bitcoin as a reserve asset.

Bitcoin recently hit an all-time high of $112,000 and is expected to consolidate between $103,000 and $108,000 according to Bitget analyst Ryan Lee. Onchain data reveals continued whale accumulation suggesting the bullish trend remains strong and further price dips may offer buying opportunities.

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LATEST: Michael Saylor’s Strategy Raises $250M Preferred Stock to Buy More Bitcoin Again

Strategy (Nasdaq: MSTR) is launching an IPO of 2.5 million shares of its 10 % Series A Perpetual Stride Preferred Stock under the ticker STRD. The company plans to use the proceeds to buy more Bitcoin and support general corporate operations.

The STRD stock will pay a 10% non-cumulative cash dividend annually distributed quarterly starting September 30, 2025. If a fundamental change occurs investors can demand Strategy repurchase their shares for $100 each plus any unpaid dividends. Strategy also reserves the right to redeem STRD shares if holdings fall below 25% of the original issue or if certain tax events arise.

Recently Strategy bought 705 more Bitcoin for $75 million at an average price of $106,495 per coin. This brings their total Bitcoin holdings to 580,955 BTC making them the largest corporate holder. The purchase was funded through an at-the-market sale of preferred shares raising $74.6 million which included sales of STRK and STRF stock.

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Michael Saylor’s Strategy Announces Initial Public Offering Of 2,500,000 STRD Shares

Today, Strategy (Nasdaq: MSTR; STRK; STRF) has announced that it plans to conduct an initial public offering of 2,500,000 STRD shares of Strategy’s 10.00% Series A Perpetual Stride Preferred Stock. 

“Strategy intends to use the net proceeds from the offering for general corporate purposes, including the acquisition of bitcoin and for working capital,“ stated the company in the announcement.

The STRD Stock will offer non-cumulative cash dividends at an annual rate of 10 percent, paid quarterly in arrears on March 31, June 30, September 30 and December 31 of each year, beginning on September 30, 2025. If dividends are not declared, they will not accumulate, and Strategy…

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Tether Group & Bitfinex Transferred 25,812 BTC To Jack Mallers’ Twenty One Capital

Today, Tether Group and Bitfinex have transferred a combined 25,812.22 BTC to support their investment in Twenty One Capital, a newly formed Bitcoin-native company set to go public through a business combination with Cantor Equity Partners (Nasdaq: CEP).

Tether moved 14,000 BTC to an address of Twenty One Capital (XXI) and previously transferred 4,812.22 BTC to another address of Twenty One Capital as part of their investment in the company.

Bitfinex, in parallel, has sent 7,000 BTC to an address of Twenty One Capital, also as part of its investment.

These Bitcoin transfers come a little over a month after Twenty One Capital and CEP announced that it was raising $585…

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What the SEC’s staking ETF objection means for other proposals

The SEC’s move to halt proposed crypto ETFs that would allow staking likely won’t help or hurt other issuers’ efforts to unlock that feature for their own funds, industry watchers argue.

Registration statements for the Rex-Osprey ETH Staking ETF and the Rex-Osprey SOL Staking ETF went effective on May 30 “without resolution of staff comments,” the SEC wrote in a letter that day. 

The funds were structured as C-corporations, Bloomberg Intelligence analyst James Seyffart pointed out in a series of X posts. This “unique structure” would allow the funds to bypass the 19b-4 process, which requires self-regulatory organizations to propose rule changes to the… Read more on Blockworks

Expert Applauds SEC’s Protocol Staking Clarity, Boosting Crypto Innovation

Experts commend the SEC’s statement clarifying that protocol staking on proof-of-stake networks does not constitute securities, fostering crypto innovation.

What Happened: The Division of Corporation Finance’s guidance specifies that staking activities on public, permissionless PoS networks, termed “Protocol Staking” are not investment contracts under the Howey test, as they lack entrepreneurial or managerial efforts from third parties.

Speaking with Benzinga, Kevin Liu, co-founder and CEO of GOAT Network, hailed the SEC’s stance as a “welcome advancement” for the crypto industry.

He noted that by recognizing rewards in protocol staking as derived from the protocol itself, not third-party…

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Reitar Logtech Announces $1.5 Billion Bitcoin Acquisition Plan

Reitar Logtech Holdings Ltd., a Hong Kong-based firm operating in real estate and logistics technology, has officially announced plans to purchase up to $1.5 billion worth of Bitcoin. The move was disclosed in a June 2 filing with the U.S. Securities and Exchange Commission (SEC). 

According to the filing, the strategic Bitcoin acquisition is intended to bolster Reitar’s treasury reserves while accelerating the company’s global expansion in logistics technology infrastructure. The announcement aligns Reitar Logtech with a growing number of international firms turning to Bitcoin as a reserve asset. 

By incorporating Bitcoin into its financial strategy, Reitar Logtech…

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Yuga Labs sells off Moonbirds IP as push to clean house continues

This is a segment from The Drop newsletter. To read full editions, subscribe.

Yuga Labs is cleaning house.

The crypto startup, known for creating the Bored Ape Yacht Club NFTs and promising a massive metaverse game called Otherside, has continued to purge itself of all the other NFT IP it’s acquired in recent years.

Yuga has now sold off Kevin Rose’s Moonbirds IP, which it bought via an acquisition of Proof Labs in 2024, to a company called Orange Cap Games. Quick sidenote: Rose is now rebooting his old news site Digg with a crypto wallet integration.

“Moonbirds deserve a team whose whole world is the birds, and there’s no one better than Orange Cap Games to help…

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