Coinsilium Group Limited (AQSE:COIN, OTCQB:CINGF) has successfully raised £4 million in its significantly oversubscribed retail offer.
The raise comes as the blockchain and crypto company is seeing a high degree of interest in its Bitcoin treasury venture, Forza.
In the WRAP retail share offer, Coinsilium’s initial ask was £2.5 million. Clearly, the equity is in demand.
Coinsilium earlier this week announced that Forza had acquired 6.5577 Bitcoin at an average price of £77,770.36 per coin, totalling £510,000.
Forza’s treasury now comprises 25.2392 Bitcoins, valued at £1.96 million.
Launched this spring, Forza is, according to Coinsilium chair Malcolm Pallé, intended to be positioned as ‘a treasury vehicle that adheres to the standards of institutional allocators, while never losing sight of the early conviction and support of retail investors’.
“Retail investors have been proven to be the smartest players in the room during this cycle, and Forza! gives them a rare opportunity to lead before the institutions follow,” Pallé said in May as Forza made its first Bitcoin purchases.