The Blockchain Group just snatched up a massive 580 Bitcoin, dropping a cool €47.3 million ($50.8 million) on the digital currency. The French blockchain firm paid an average of €81,550 per Bitcoin in the purchase, executed through its Luxembourg subsidiary. Not too shabby for a company that only started its Bitcoin strategy last November.
French firm The Blockchain Group goes big, scooping up 580 Bitcoin for a cool €47.3 million through its Luxembourg arm.
This latest buy brings their total Bitcoin stash to 620 BTC, worth about €50.5 million. And get this – their Bitcoin strategy has yielded a mind-blowing 709.8% year-to-date. That’s an increase of 283.9 BTC in notional terms, or €23.15 million in good old euros. The stock price? Up 225% since they started hoarding Bitcoin. Talk about a winning bet.
CEO Alexandre Laizet isn’t being subtle about the company’s ambitions. They’re aiming to become Europe’s first Bitcoin Treasury Company, following the playbook of Strategy (formerly MicroStrategy). Forget traditional returns. This is all about stacking sats.
The transaction went through Swissquote Bank Europe SA, with custody handled by Swiss firm Taurus. It’s their third and largest Bitcoin purchase since initiating this strategy. The timing is interesting too – Bitcoin was trading around $87,000 when they bought in.
The Blockchain Group now ranks as the 28th largest corporate Bitcoin holder globally. Not bad for a company listed on Euronext Growth Paris, currently trading at €0.4975 per share.
They’ve even introduced new metrics like “BTC Yield” and “BTC Gain” to measure their success. These folks are serious about their Bitcoin strategy.
The purchase comes as other companies like GameStop announce their own Bitcoin acquisition plans. With the pro-crypto regulatory environment under Trump’s administration, more corporations seem ready to plunge into Bitcoin.
Europe’s financial landscape is changing. And The Blockchain Group is riding the wave. Hard.
At the current Bitcoin price of approximately $96,554.87, their 620 BTC holdings would be worth nearly $60 million, showcasing the market’s high volatility and potential for significant value fluctuations.
