Daniel Walker
The Blockchain Group has strengthened its Bitcoin treasury by acquiring 580 BTC, marking its third and most substantial purchase since adopting a Bitcoin accumulation strategy.
This latest acquisition significantly exceeds the companyโs first two Bitcoin purchasesโ15 BTC and 25 BTC, respectively. In a Wednesday press release, the company described the move as a “major step” toward its goal of maximizing Bitcoin per share.
The purchase was conducted via The Blockchain Group Luxembourg SA, a subsidiary of the company, at an average price of โฌ81,550 ($87,874) per BTC. Funding for the purchase came from proceeds of a convertible bond issuance announced on March 6.
Bitcoin Holdings & Market Impact
With this latest investment, The Blockchain Group now holds a total of 620 BTC, valued at over $54.2 million at current market prices.
Since announcing its Bitcoin-focused strategy on November 5, 2024, the company’s stock has surged over 220%, according to Euronext data. On Wednesday, shares closed 3.54% higher, reflecting strong investor confidence.
CEO Credits Success to Bitcoin Accumulation Strategy
In a March 20 post on X, CEO Alexandre Laizet attributed the company’s rapid stock growth to “the power of focusing on Bitcoin accumulation.” Laizet also stated that The Blockchain Group is following the example set by Michael Saylorโs Strategy and Japanโs Metaplanet, both of which continue expanding their Bitcoin reserves despite price fluctuations.
Currently, The Blockchain Group ranks 28th among corporate Bitcoin holders, while Strategy and Metaplanet remain at the forefront of institutional BTC accumulation.
Meanwhile, GameStop recently announced a $1.3 billion private offering of convertible senior notes to fund its own Bitcoin acquisition strategy, causing its stock to jump 11% during regular trading hours.
