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

BlockBeats reported on June 11 that The Blockchain Group, the first Bitcoin treasury reserve company in Europe, received shareholder approval on June 10 to immediately raise over €10 billion (approximately $11 billion) for additional Bitcoin purchases. According to a statement published on X, during an Ordinary and Extraordinary General Meeting, investors holding 39% of voting rights passed all resolutions with over 95% approval. This authorization grants the board legal powers to issue equity or other securities and, if necessary, enter public or private markets without pre-emptive 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. Additionally, shareholders elected Alexandre Laizet to the board and appointed him as Deputy CEO, responsible for Bitcoin strategy. His six-year term will run through December 2030.

The authorization raises the upper limit significantly, far exceeding 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 allows The Blockchain Group to sell new shares in batches at current market prices, 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.