French Technology Company Made a Massive Bitcoin Purchase: One of the Largest! - Coin Bulletin

Koinbulteni · 2025-03-27T12:30:57+00:00

Blockchain Group recently added 580 BTC to their treasury, marking their third and largest purchase. They aim to increase their Bitcoin holdings further, following a successful investment strategy.

Koinbulteni

2025-03-27 12:30:57

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Following the adoption of the accumulation strategy for Bitcoin (BTC), the Blockchain Group made its third and largest purchase by adding 580 BTC to the treasury.

The latest BTC purchase by Blockchain Group shows a significant increase compared to the company’s first two purchases. The company made this purchase at a price of 81,550 euros approximately 87,874 dollars per Bitcoin, using the revenue from the convertible bond issuance announced on March 6. This purchase is seen as an important step in the company’s Bitcoin treasury strategy and aims to hold more Bitcoin in each share.

With the new purchase, the company’s total Bitcoin holdings reached 620 BTC, and the value of this amount is over 54.2 million dollars according to current market prices. The stock price of Blockchain Group’s France-based technology consulting company increased by 220% following the Bitcoin strategy announced on November 5, 2024. The company’s stock price experienced a 3.54% increase on Wednesday.

The CEO of Blockchain Group, Alexandre Laizet, stated in an announcement on March 20 that the stock performance of their companies is linked to the strategy of accumulating Bitcoin. Additionally, Laizet noted that the company draws inspiration from Michael Saylor’s strategy and the example of Japanese Metaplanet in its Bitcoin accumulation.

As of now, Blockchain Group is ranked 28th among institutional companies that own Bitcoin. Despite Bitcoin’s decline in value after its peak at the end of 2024, companies like Strategy and Metaplanet continue to accumulate Bitcoin.

Yesterday, video game retailer GameStop announced a special offering of $1.3 billion worth of convertible senior bonds, indicating that the company has begun plans to purchase Bitcoin. This announcement boosted GameStop’s share price by 11%.

BTC-2,33%

NC-4,53%

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