French Asset Manager Raises $53M to Back Bitcoin

Group 1 - Melanion Capital is raising €50 million (approximately $53 million) to invest directly in Bitcoin as part of a new treasury strategy [1] - The firm is introducing a private, regulated Bitcoin Treasury Operated Company (BTOC) model, allowing for better management of volatility and liquidity [2] - By leveraging its own balance sheet, Melanion aims to demonstrate the sustainability of a Bitcoin treasury before offering the framework to other private businesses [3] Group 2 - Melanion views Bitcoin as a critical tool for long-term monetary transition and not just a hedge against inflation, marking one of the largest private Bitcoin treasury commitments in Europe [4] - The firm previously launched Europe's first UCITS-compliant Bitcoin Equities ETF in 2021 and is now shifting to a more aggressive Bitcoin strategy [5] Group 3 - LQWD Technologies has increased its Bitcoin reserves by adding 5 BTC, totaling approximately 166 BTC, while maintaining a debt-free status [6] - Keen Golden has purchased nearly 106 BTC for $12 million as part of a strategic deal with Bitmain Group, linking the acquisition to a supercomputing server purchase for crypto mining [7]