The Blockchain Group Issues Convertible Bonds Worth 98.8 Billion Won to Purchase Additional Bitcoin (BTC)
JH Kim
Summary
- The Blockchain Group announced it will issue convertible bonds worth 98.8 billion won to expand its Bitcoin holdings.
- With this funding, they plan to increase their Bitcoin holdings to 1,437 units.
- The company considers Bitcoin as a long-term strategic asset and is moving to incorporate it into their portfolio as digital gold.
French blockchain specialist company The Blockchain Group (ALTBG) announced on the 26th (local time) via X (formerly Twitter) that it will issue convertible bonds worth 63.3 million euros (approximately 98.8 billion won) to expand its Bitcoin (BTC) holdings.
Through this funding, they plan to increase their BTC holdings to 1,437 units.
The company considers BTC as a long-term strategic asset.
This move is noted as a representative example of the ongoing trend of companies incorporating BTC into their portfolios as digital gold.
Meanwhile, BTC is trading at $109,154.06, up 1.61% from the previous day, based on the Binance Tether (USDT) market as of 03:48 on the 27th.
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
