EU-listed Fragbite Group adds Bitcoin to treasury with first 4.3 BTC purchase

Bitcoin is quietly making its means onto the stability sheets of European corporations as company curiosity throughout the area continues to develop.

Fragbite Group AB, a digital leisure firm listed within the EU, has made its first transfer into Bitcoin (BTC). The corporate confirmed on July 22 that it bought 4.3 BTC at a median value of round $112,958 per coin, marking the beginning of its newly established Bitcoin Treasury.

The acquisition, price roughly $486,000, is a part of a method to speculate surplus liquidity into Bitcoin as a retailer of worth and to bolster the corporate’s capital construction.

Fragbite mentioned it plans to proceed including to its BTC holdings over time as a part of a long-term accumulation technique. The Sweden-based firm defined that the choice so as to add BTC to its stability sheet displays its view of it as a “strategic asset” that may strengthen capital construction and ship worth to shareholders over the long term.

“We’re each happy and excited to have formally pressed the beginning button for our Bitcoin Treasury technique,” mentioned Patrik von Bahr, Bitcoin Treasury Director at Fragbite, including that, “with this primary allocation of liquidity to bitcoin, the corporate has taken its place as an early pioneer in a revolutionary business.”

You may additionally like: Bitcoin FOMO sparks recent inflows, is retail curiosity coming again?

Fragbite’s Bitcoin technique provides to a rising pattern amongst European listed corporations exploring BTC as a treasury reserve. In November 2024, France-based knowledge intelligence firm The Blockchain Group grew to become the primary EU agency to undertake a BTC-treasury technique, and has now constructed its whole holdings to 1,955 BTC as of July 21, price round $233 million.

Within the UK, Smarter Internet Firm has additionally been increasing its Bitcoin place, with the newest addition of 325 BTC final week, bringing its whole holdings to 1,600 BTC.

The rise of company Bitcoin treasuries comes as BTC continues to outperform expectations, lately breaking above $123,000 to set a brand new all-time excessive. Whereas it trades at a extra modest vary of $118,000 on the time of writing, the asset’s efficiency to this point has bolstered its attraction as a long-term funding asset.

You may additionally like: Bitcoin dominance slides as Ethereum market share jumps to 11.6%