French blockchain solutions company The Blockchain Group has just made its largest Bitcoin (BTC) purchase to date, acquiring 580 BTC for approximately $50.64 million.
This marks the company’s third BTC investment since it began buying Bitcoin in November 2024, signaling a strong commitment to the crypto space.
The Blockchain Group’s Bitcoin Buying Spree
💰 Latest Purchase:
- Bought 580 BTC at an average price of $88,020 per coin
- Total purchase cost: $50.64 million
- Made through its Luxembourg-based subsidiary
🛠️ How Did They Fund It?
- The company used funds from a convertible bond issuance announced on March 6.
- This aligns with their Bitcoin Treasury Strategy, which focuses on holding BTC as a store of value.
📜 Previous Purchases:
- November 2024: First BTC buy – 15 BTC at $68,785 per coin
- December 2024: Second BTC buy – 25 BTC at $97,692 per coin
- Total BTC Holdings: 620 BTC (worth over $54 million at current prices)
📈 Stock Market Impact:
Since its first BTC purchase in November 2024, the company’s stock has skyrocketed by 225%! 🚀
The Blockchain Group’s stock (ALTBG.PA) closed today at €0.4975 ($0.54), up 3.09%.
Year-to-date, shares have surged 65.78%, suggesting that Bitcoin exposure has boosted investor confidence.
Will More Companies Buy Bitcoin in 2025?
Experts predict corporate Bitcoin adoption will grow even more in 2025, fueled by:
✔️ Bitcoin’s growing status as a valuable asset
✔️ A pro-crypto regulatory environment, especially under US President Donald Trump
✔️ Companies looking to hedge against inflation and economic uncertainty
🏢 Big Players Are Jumping In:
- MicroStrategy, the largest corporate Bitcoin holder, recently added 6,911 BTC, bringing its total to over 500,000 BTC.
- US-based Fold Holdings also acquired 475 BTC this month.
🏛️ Governments Are Joining Too:
- US states like Utah and Kentucky are pushing laws to hold Bitcoin in their state reserves.
- In Mexico, billionaire Ricardo Salinas has revealed that 70% of his investment portfolio is now in Bitcoin and crypto-related assets.
As of now, Bitcoin is trading at $86,838, down 1.1% in the last 24 hours.
