The Blockchain Group has been approved to raise approximately $11 billion for purchasing Bitcoin.

BlockBeats disclosed on June 11 that The Blockchain Group, which is the first Bitcoin treasury reserve company in Europe, obtained shareholder approval on June 10 to promptly raise more than €10 billion (approximately $11 billion) for additional Bitcoin purchases. According to a statement posted on X, during an ordinary and extraordinary general meeting, investors holding 39% of the voting rights passed all resolutions with over 95% approval. This authorization provides the board with legal authority to issue equity or other securities and, if needed, enter the public or private markets without preemptive subscription rights. CEO Jean-Philippe Casadepax-Soulet stated that this authorization will "accelerate our Bitcoin treasury company strategy" by gradually increasing the fully-diluted BTC holdings per share over time. Furthermore, shareholders elected Alexandre Laizet to the board and appointed him as the deputy CEO, responsible for Bitcoin strategy. His six-year term will extend through December 2030. The authorization significantly raises the upper limit, far surpassing the €300 million At-The-Market (ATM) issuance facility announced by the company on June 9 in collaboration with asset management firm TOBAM. This structure enables The Blockchain Group to sell new shares in batches at the current market price, with TOBAM as the sole subscriber. If fully exercised, TOBAM could acquire up to 39% of the company's equity. BlockBeats notes: The total market capitalization of Blockchain Group SA is €498 million.