Key Highlights
- Strategic Bitcoin Acquisitions: Finalized subscriptions and conversions enabled the acquisition of 60 BTC for €5.5 million, expanding total holdings to 1,788 BTC (€161.3 million).
- Financial Performance: Achieved a BTC Yield of 1,270.7% YTD and 69.3% QTD, with gains of 508.3 BTC (€46.7 million) year-to-date.
- Capital Reinvestment: Proceeds from share subscriptions (including Adam Back’s €1.16 million investment) and warrant conversions funded BTC purchases at an average price of €90,213 per bitcoin.
Detailed Breakdown
1. Capital Adjustments & BTC Acquisitions
Adam Back & TOBAM Subscriptions:
- Adam Back: 2,126,565 shares (€1.16 million) → 13 BTC (€1.19 million).
- TOBAM: 262,605 shares (€0.14 million) → 41 BTC (€3.8 million via ATM program).
- BSA 2025-01 Conversion: 1,101,175 new shares (€0.6 million) → 6 BTC (€0.5 million).
👉 Explore Bitcoin investment strategies
2. BTC Holdings & Performance Metrics
| Metric | YTD | QTD |
|----------------------|-------------|-------------|
| BTC Yield | 1,270.7% | 69.3% |
| BTC Gain | 508.3 BTC | 429.5 BTC |
| € Gain | €46.7M | €39.5M |
Average BTC Acquisition Cost: €90,213 (total holdings: 1,788 BTC).
3. Shareholder Impact
- Fully Diluted Capital: 318,109,554 shares.
Top Holders:
- Adam Back: 12.65% (17M shares).
- TOBAM: 6.11% (8.2M shares).
- Public/Institutional: 72.39% (97.3M shares).
FAQs
Q: How does the BTC Yield calculation work?
A: It reflects the percentage change in BTC holdings per fully diluted share, excluding unexercised warrants.
Q: What’s the long-term strategy?
A: Increase bitcoin-per-share ratio while growing subsidiary operations in AI and decentralized tech.
Q: Who manages BTC custody?
A: Banque Delubac & Cie (AMF-registered) using Taurus’ secure digital asset infrastructure.
👉 Learn about secure crypto custody
Risk Factors & Disclaimer
- Volatility: BTC prices and regulatory changes may impact performance.
- No Dividend Policy: Holdings don’t equate to direct BTC ownership for shareholders.
- Full Risks: Detailed in the 2024 Annual Report.
For compliance, this is not financial advice. Past performance ≠ future results.