The Blockchain Group, a blockchain solutions company based in France, has just declared its most substantial Bitcoin (BTC) acquisition to date, purchasing 580 BTC. This acquisition represents the company’s third purchase of the digital asset since its initial investment in November 2024.
The Blockchain Group Purchases 580 Bitcoin
In its largest BTC acquisition to date, The Blockchain Group has secured 580 BTC for about $50.64 million, averaging at $88,020 per coin. The announcement specifies that this transaction was executed through its subsidiary located in Luxembourg.
Significantly, the purchase was financed via proceeds from a convertible bond issuance made public on March 6, aligning with the firm’s Bitcoin Treasury strategy.
To refresh your memory, The Blockchain Group initiated its first BTC acquisition in November 2024, obtaining 15 BTC at an average price of $68,785 per coin. Its subsequent purchase occurred in December 2024, when it acquired 25 BTC at an average price of around $97,692.
As a result of this latest acquisition, the company’s total BTC holdings have now reached 620 BTC, with a combined net asset value of just over $54 million at current market rates.
According to Yahoo! Finance data, The Blockchain Group’s stock (ALTBG.PA) closed today’s trading at €0.4975 ($0.54), reflecting a 3.09% increase. Year-to-date, the company’s shares have experienced a notable rise of 65.78%, indicating a positive impact on its valuation from its BTC exposure.
According to the official website of The Blockchain Group, its shift towards Bitcoin forms part of a larger strategy to effectively utilize its excess cash and financial tools. Since its inaugural BTC acquisition, the company’s stock has skyrocketed by 225%.
Corporate BTC Adoption to Expand in 2025
The corporate adoption of Bitcoin is anticipated to increase further in 2025, propelled not just by the digital asset’s inherent value but also by a supportive regulatory atmosphere under the pro-crypto administration of US President Donald Trump.
Earlier this week, the largest corporate Bitcoin holder, Strategy, purchased an additional 6,911 coins, raising its total Bitcoin holdings to over 500,000 BTC. Similarly, the US-based financial services company Fold Holdings announced the addition of 475 BTC to its corporate treasury at the start of this month.
As corporate adoption escalates, numerous US states have initiated legislative efforts to include BTC in their treasuries. For instance, Utah and Kentucky have made notable progress with their BTC reserve bills.
In addition, Mexican billionaire Ricardo Salinas recently disclosed that approximately 70% of his investment portfolio is now allocated to Bitcoin and related assets. At the time of this writing, BTC is trading at $86,838, down 1.1% over the past 24 hours.
Featured Image from Unsplash.com, charts from Yahoo! Finance and TradingView.com
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