French investment firm Melanion plans to raise 50 million euros, all to be used for purchasing Bitcoin.

ChainCatcher news, according to PR Newswire, French investment firm Melanion Capital has announced the launch of a new strategic initiative, positioning itself as a private asset management company implementing the Bitcoin Treasury Operating Company (BTOC) model.

Melanion claims: "Unlike the public company model, Melanion's private structure gives it greater flexibility in dealing with volatility, structuring trades, and managing liquidity; the company will apply this strategy directly to its own balance sheet, taking the lead in demonstrating what a sustainable bitcoin reserve looks like before providing a framework for other private enterprises to become BTOCs." To accelerate the implementation of this strategy, Melanion's board plans to raise 50 million euros, all of which will be allocated to bitcoin.