Blockchain Group Secures $7.7M to Boost Bitcoin Reserves as BTC Eyes Breakout

French-listed tech company Blockchain Group has secured €7.2 million ($7.7M) in fresh funding, reinforcing its position as Europe’s first Bitcoin Treasury Company. The round was led entirely by asset manager TOBAM, which acquired 1.6 million shares during a discounted “At-The-Market” offering, finalized between June 9–13.

🚀 Key Takeaways:

Bitcoin Treasury Strategy: The capital will fuel Blockchain Group’s ongoing Bitcoin accumulation, echoing strategies from MicroStrategy and Metaplanet.
TOBAM’s Commitment: TOBAM, a long-standing institutional backer of Bitcoin, subscribed via three of its funds, now owning over 3% of the company’s capital.
BTC Target: The company aims to hold up to 260,000 BTC by 2033—valued at ~$24B at today’s prices.
Recent Accumulation: Between March and June, it acquired 1,431 BTC (worth $152M).
Market Impact: The move could position Blockchain Group as Europe’s top institutional Bitcoin proxy for investors.

📉 BTC Price Outlook:

Currently trading near $106,500, Bitcoin is hovering below a critical resistance zone around $109,500, according to Fibonacci levels. A break above this could trigger a rally toward $119,000, assuming bullish momentum holds.

However, geopolitical tensions—especially between Israel and Iran—could trigger a downside move toward $103,000 or even $100,000, undermining recent gains.

🧠 Should You Buy?

Blockchain Group’s aggressive BTC strategy and institutional backing signal growing confidence in long-term Bitcoin upside. For investors seeking European exposure to Bitcoin without direct holdings, this might become a go-to stock.

However, market volatility remains high, and external geopolitical risks could drive near-term price swings.