The Blockchain Group Invests $50 Million in Bitcoin
France-based company The Blockchain Group has increased its Bitcoin holdings with a new purchase of 580 BTC, following a 225% rise in its stock price since it began accumulating Bitcoin in November.
According to a March 26 after-hours statement, this marks the largest of the company’s three Bitcoin acquisitions to date.
At the time of publication, the 580 BTC is valued at approximately $50.64 million, with Bitcoin trading at $87,311, based on CoinMarketCap data.
The Blockchain Group’s initial two Bitcoin buys coincided with key moments for the crypto market.
The company acquired 15 BTC on Nov. 5—the same day Donald Trump won the U.S. presidential election and just before Bitcoin’s month-long rally that led to its first-ever $100,000 price in December.
The second purchase occurred on Dec. 4, when Bitcoin was trading at $96,000 during the post-election surge, just before the token crossed the six-figure mark the next day.
Although March 26 doesn't represent a major Bitcoin event, it falls just five days before the end of Q1 2025—a quarter where Bitcoin has underperformed compared to previous years—and also precedes the first anniversary of the Bitcoin halving on April 20.
According to the company’s website, its Bitcoin acquisition strategy aims to make use of excess cash and strategic financing tools.
The Blockchain Group (trading under ALTBG) is listed on Euronext Paris, the second-largest stock exchange in Europe by market capitalization.
The company describes itself as a “global umbrella” for firms focused on data intelligence, AI, and decentralized technologies.
Since initiating its Bitcoin strategy on Nov. 5, ALTBG’s share price has surged 225%, reaching 0.48 euros ($0.52), according to Google Finance.
The most recent Bitcoin purchase was revealed after market close on March 26.
That same day, GameStop shares jumped nearly 12% after it disclosed plans to purchase Bitcoin.
GameStop intends to fund the acquisition through debt financing.
After markets closed, it announced a $1.3 billion offering of convertible notes.
N7 Capital founder Anton Chashchin commented in a statement shared with Cointelegraph, “It’ll be interesting to observe if other companies take up the baton from GameStop and where this will lead the market.”
Meanwhile, U.S. angel investor Jason Calacanis remarked that Bitcoin could be a fitting strategy for publicly traded companies lacking strong business models.
Michael Saylor, an early proponent of corporate Bitcoin adoption, has led his firm, Strategy, past the 500,000 BTC milestone. Strategy now holds 506,137 Bitcoin.
Between November and January, Strategy maintained a 12-week streak of continuous Bitcoin purchases.
Sources:
https://coinmarketcap.com/currencies/bitcoin/
Try to invite your friends and earn together
10% of trading fees of your friends and 5% from the earnings of your friends.
