The Blockchain Group increased its Bitcoin holdings by 590 BTCs to a total of about 1437 coins.

The company received significant funding from Fulgur Ventures and Moonlight Capital. Bitcoin price has attempted to regain bullish sentiment catalyzed by high demand from long-term institutional investors.

The Blockchain Group, the first European-based company to implement a Bitcoin (BTC) treasury management, completed a significant fundraising to strengthen its Bitcoin position.

The company announced on Monday, May 26, that it had successfully raised around €63.3 million through a convertible bond issuance. The funds will be used to buy more Bitcoins (BTC) and expand its treasury.

The company received significant funding from Fulgur Ventures, which invested €55.3 million, while Moonlight Capital contributed about €5 million. Additionally, OCA Tranche 2 by UTXO Management provided around €3 million.

The bonds, issued at a price of €99.99 and convertible into shares at a price of €11, will mature in five years. During this period, they will carry an interest rate of 0 percent per annum. Swissquote Bank Europe will be holding the acquired Bitcoins.

The Blockchain Group S.A. (France:ALTBG) also announced that it has increased its net Bitcoin holdings by 590 BTCs to a total of about 1,437 coins.

Bitcoin price attempts to regain bullish sentiment

Bitcoin (BTC) led the wider altcoin market with a cash inflow of about $2.97 billion last week, hence increasing its net Assets Under Management (AUM) to about $158.3 billion.

According to market data from CoinShares, the majority of Bitcoin’s net cash inflow came from the spot BTC ETF issuers, which posted a total cash inflow of about $2.75 billion last week. The notable Bitcoin demand from institutional investors played a significant role in its ongoing bullish sentiment.

For the first time in its history, BTC price recorded a weekly close of above $109k last week. Most importantly, BTC price rebounded from an established rising logarithmic trend established in the past two months.