French technology company boldly invests in Bitcoin, plans to raise 10 billion euros to create digital asset reserves

A French publicly listed technology company recently announced an ambitious plan to raise over 10 billion euros to purchase Bitcoin on a large scale. The company, which is listed on the Euronext Paris, recently held a shareholders' meeting with the primary purpose of significantly enhancing its financing capacity to accelerate the implementation of its "Bitcoin reserve" strategy.

The company's management stated that this strategy aims to establish a "insurance" against currency devaluation. The core idea is to increase the number of Bitcoins corresponding to each share, thereby enhancing shareholder value in the long term. To achieve this goal, the company has adopted two key strategies: first, new shares will be issued at a premium based on the existing stock price, with recent financing premiums ranging from 30% to 70%, which helps to enhance the interests of existing shareholders. Second, the company takes a long-term perspective by measuring performance in Bitcoin rather than euros or dollars.

At the recent shareholders' meeting, the company not only approved the large-scale Bitcoin reserve plan but also appointed new board members. A vice CEO was appointed as the head of Bitcoin strategy for a term of six years. The approved financing instruments include various forms such as common stock, preferred stock, warrants, and convertible bonds, allowing the company's financial team to flexibly choose financing methods based on market demand.

It is worth noting that this company has not always focused on Bitcoin. Until the end of 2023, it was a diversified blockchain technology company with operations covering various fields such as media, consulting, and software services. However, after several years of development, the company has struggled to achieve profitability. At the end of 2023, the company underwent significant restructuring, divesting or liquidating some outdated subsidiaries, forming a more streamlined and focused new entity.

Starting from November 2024, the company will begin to acquire Bitcoin on a large scale. As of recently, the company holds approximately $160 million worth of Bitcoin, with an average purchase cost of $102,507 per coin, currently showing an unrealized gain of 5.21%. The company has ambitious future plans, aiming to hold between 21,000 to 42,000 Bitcoins by 2029, and further increase this to between 170,000 to 260,000 by 2033, accounting for about 1% of Bitcoin's fixed supply.

The company's Bitcoin strategy leader is a former consulting advisor who has served several large enterprises and financial institutions. In an interview, he stated that if the U.S. government begins to purchase Bitcoin on a large scale, it could trigger a "escape velocity" in Bitcoin prices, leading its market capitalization to reach gold levels, approximately $20 trillion, with each Bitcoin potentially priced at least $1 million.

He also predicts that 2025 will be the year when the banking industry "jumps into Bitcoin," followed by bank customers. He believes that Bitcoin is迎来 its "iPhone moment," and ultimately wealth will be valued in Bitcoin, making Bitcoin the ultimate safe-haven asset.

For how businesses can participate in this new economy, he suggested purchasing Bitcoin through regulated institutional service providers. He criticized most companies for only putting a small amount of cash into Bitcoin, believing that this strategy, which is merely used as "insurance", is insufficient. Instead, he advocated for a more aggressive increase in the number of Bitcoins held per share.

Overall, this French tech company is actively promoting its positioning as a "Bitcoin reserve company" by increasing financing and adjusting its financial structure to achieve this goal. Although there are still uncertainties in market performance and the regulatory environment, the company has clarified its development path and attracted the attention of some industry investors. Whether it can achieve its ambitious growth targets in the future remains to be seen.