Key Notes
Melanion Capital has raised €50 million ($53 million) to allocate directly into Bitcoin.
The firm is pioneering a private Bitcoin Treasury Operated Company (BTOC) model.
LQWD and Keen Golden have also exposed their finances to Bitcoin.
Paris-based Melanion Capital is pushing deeper into Bitcoin , raising €50 million (about $53 million) to allocate directly into the world’s largest cryptocurrency as part of a pioneering treasury strategy.
#BYEX News?:
Melanion Capital plans to raise €50M, fully allocated to #Bitcoin ?#DigitalAssets #Crypto #BitcoinInvestment ☄️ pic.twitter.com/h5aH3TRinR
— BYEX_Official? (@100EXOfficial) September 25, 2025
A Private Treasury Model for Bitcoin
Unlike public companies that have added Bitcoin to their balance sheets in recent years, Melanion is introducing a private, regulated Bitcoin Treasury Operated Company (BTOC) model.
This structure gives the firm greater flexibility to manage volatility, optimize liquidity, and engineer additional yield beyond simple Bitcoin exposure.
Related article: UK’s First Bitcoin Treasury Company B HODL Buys 100 BTC
By leveraging this strategy on its own balance sheet, Melanion aims to prove the sustainability of a Bitcoin treasury before providing the framework to other private businesses.
Strategic Commitment to Bitcoin
Melanion views Bitcoin not just as a hedge against inflation but also as a crucial tool in a long-term monetary transition. The $53 million fundraise signals one of the largest private Bitcoin treasury commitments in Europe, calling on other firms to integrate digital assets.
“In time, it became clear that Bitcoin represents not just an asset, but a destination as the long-term anchor of capital preservation and growth, especially for Bitcoin treasuries,” said CEO Jad Comair.
Interestingly, in 2021, Melanion launched Europe’s first UCITS-compliant Bitcoin Equities ETF. Now, with its treasury pivot, it is expanding that vision by transitioning from a defensive allocation to a more aggressive Bitcoin strategy.
LQWD Expands Its Bitcoin Treasury
Alongside Melanion, Canada-based LQWD Technologies recently added 5 more BTC to its reserves, bringing its total to about 166 BTC.
The company has been pursuing a steady accumulation strategy, holding all of its Bitcoin unencumbered while remaining debt-free.
JUST IN: Canadian public company LQWD Technologies $LQWD has raised $1.85 million to buy more #Bitcoin. pic.twitter.com/hWiWs1vPsT
— BitcoinTreasuries.NET (@BTCtreasuries) September 25, 2025
With roughly 22.6 million shares outstanding, LQWD is locked-in on BTC as a long-term growth asset, potentially cementing Bitcoin as the best crypto to buy in 2025.
Keen Golden Bets $12M on Bitcoin
Meanwhile, Keen Golden, a joint venture with a 70% parent ownership stake, has significantly boosted its Bitcoin exposure. On September 24, 2025, the firm purchased nearly 106 BTC on the open market, valued at $12 million.
The acquisition is tied to a strategic deal with Bitmain Group, where Keen Golden pledged 89 BTC as part of a supercomputing server purchase agreement for crypto mining.
