The Blockchain Group, based in France, has expanded its Bitcoin treasury by acquiring an additional 580 Bitcoin, driven by a remarkable 225% increase in its stock price since it initiated its Bitcoin purchasing strategy in November.
This latest acquisition marks the largest of the organization’s three Bitcoin purchases, as noted in a statement released after hours on March 26. At the time of writing, these 580 Bitcoin hold a value of $50.64 million, with Bitcoin (BTC) trading at $87,311, based on CoinMarketCap data.
Significant Bitcoin Milestones for Early Purchases
The Blockchain Group’s initial two Bitcoin purchases took place during pivotal moments in the Bitcoin market. On November 5, the company purchased 15 BTC on the same day Donald Trump won the U.S. presidential election, preceding a month-long Bitcoin rally that culminated in Bitcoin reaching $100,000 for the first time in December.
Bitcoin has risen by 24.38% over the past year. Source: CoinMarketCap
The organization’s second purchase occurred on December 4, when it acquired 25 Bitcoin while prices were at $96,000 during the post-election rally, just before Bitcoin’s price surpassed six figures the following day.
Although March 26 may not be a landmark date for Bitcoin, it does fall just five days before Q1 2025 ends—a quarter marked by Bitcoin’s underperformance relative to earlier years—and it also approaches the one-year anniversary of the Bitcoin halving scheduled for April 20.
As per The Blockchain Group’s official website, the Bitcoin acquisition strategy was designed to utilize the company’s surplus cash and favorable financing options.
The Blockchain Group (ALTBG) is publicly traded on Euronext Paris, which stands as Europe’s second-largest stock exchange by market capitalization.
Describing itself as a “global umbrella” for various companies focused on data intelligence, AI, and decentralized technology, the firm has seen its stock price rise 225% to 0.48 euros ($0.52) since it began purchasing Bitcoin on November 5, according to Google Finance.
This most recent Bitcoin acquisition was disclosed after markets closed on March 26.
Blockchain Group SA stock has surged following its announcement of Bitcoin accumulation. Source: Google Finance
This news coincided with GameStop’s shares rising nearly 12% after the company revealed its plans to invest in Bitcoin.
GameStop intends to finance its Bitcoin purchase through debt mechanisms, having announced a $1.3 billion offering of convertible notes after markets closed on March 26.
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N7 Capital founder Anton Chashchin remarked in a recent statement seen by Cointelegraph, “It’ll be fascinating to see if other companies follow GameStop’s lead and the potential impact on the market.”
Meanwhile, US-based angel investor Jason Calacanis stated that purchasing Bitcoin represents a sound strategy for publicly traded companies lacking a solid business model.
Michael Saylor, a prominent proponent of corporate Bitcoin adoption, has led his firm, Strategy, to recently accumulate over 500,000 Bitcoin, currently holding 506,137 Bitcoin in total.
Between November and January, Strategy maintained an uninterrupted streak of Bitcoin purchases for 12 consecutive weeks.
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This article does not constitute investment advice or recommendations. Investment and trading carry risks, and readers should conduct their own research before making any decisions.
