Europe also enters Bitcoin stockpiling…French blockchain group, pushes for acquisition of 300 million Euros

The movement for Bitcoin purchasing at the institutional level is in full swing even within Europe. The French blockchain specialized company 'The Blockchain Group' announced that it will raise a total of 300 million euros (about 342 million dollars) to embark on a large-scale Bitcoin purchase. The company plans to secure funds by selling its shares and will adopt a structure similar to the American 'ATM' method.

This announcement came shortly after The Blockchain Group recently purchased an additional approximately 68 million dollars worth of Bitcoin, bringing its total holdings to 1,471 BTC. If the funding plan is fully implemented, the company's Bitcoin holdings are expected to further increase.

A similar strategy is unfolding in the American market. Strategy (formerly MicroStrategy) recently unveiled a stock issuance plan worth 1 billion dollars, quadrupling the initial 250 million dollar funding scale. Currently, Strategy holds approximately 61 billion dollars worth of Bitcoin, which accounts for about 2.76% of the global BTC supply.

Market expert Stella Zlatareva analyzed, “Strategic purchases at the national treasury level are factors that strengthen the long-term bullish narrative of Bitcoin,” adding, “The rebound shown at the 103,000-dollar support line is also a signal that buying intentions are stronger than selling pressure.”

On the other hand, the American Bitcoin spot ETF market is showing somewhat sluggish behavior. According to Perside Investors, just last Friday alone, there was a net outflow of 47 million dollars, and 278 million dollars also flowed out the previous day. This is interpreted as a result of some institutional investors seeking short-term profit realization. Amid the contrasting trends between Europe and America, the impact of institutional strategic purchases on the BTC market is being watched.