The Blockchain Group has been approved to launch a €11 billion financing plan to accelerate its Bitcoin purchasing strategy

ChainCatcher news, according to Cryptoslate, European listed company The Blockchain Group received shareholder approval on June 10 to launch a financing plan of up to 11 billion euros to accelerate its Bitcoin accumulation strategy. The proposal passed with over 95% support, authorizing the company to expand its Bitcoin reserves through flexible financing tools such as issuing stocks and bonds.

Newly appointed Deputy CEO Alexandre Laizet will lead the Bitcoin strategy, with a board term until 2030. The company's CEO stated that this initiative will drive deeper synergies between the Bitcoin reserve strategy and its core businesses, including data intelligence and AI consulting.

It is reported that The Blockchain Group currently holds 1,471 Bitcoins (approximately 160 million dollars) and announced earlier this month the establishment of a 300 million euro ATM (at-the-market) financing mechanism with asset management company TOBAM.