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bitcoin

Bitcoin Bet Grows Bigger: The Blockchain Group Snaps Up 580 BTC

Ash Tiwari
by Ash Tiwari
2 months ago
·
Posted in Bitcoin
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

The Blockchain Group, a France-based blockchain solutions firm, recently announced its largest Bitcoin (BTC) purchase to date, acquiring 580 BTC. This marks the company’s third BTC acquisition since it began buying the digital asset in November 2024.

The Blockchain Group Buys 580 Bitcoin

In its most significant BTC acquisition so far, The Blockchain Group has purchased 580 BTC for approximately $50.64 million at an average price of $88,020 per coin. According to the announcement, the purchase was made through its Luxembourg-based subsidiary.

Notably, the acquisition was financed through proceeds raised from a convertible bond issuance announced on March 6. The move aligns with the firm’s Bitcoin Treasury strategy.

Related Reading: Strategy Buys 130 Bitcoin, Now On The Brink Of 500,000 BTC Holdings

To recall, The Blockchain Group made its first BTC purchase in November 2024, acquiring 15 BTC at an average cost of $68,785 per coin. Its second purchase followed in December 2024, when it bought 25 BTC at an average price of roughly $97,692.

Following its latest acquisition, the company’s total BTC holdings now stand at 620 BTC, with a total net asset value of slightly over $54 million at current market prices.

According to data from Yahoo! Finance, The Blockchain Group’s stock (ALTBG.PA) closed today’s trading session at €0.4975 ($0.54), up 3.09% on the day. On a year-to-date basis, the company’s shares have surged by an impressive 65.78%, suggesting that its exposure to BTC has positively impacted its valuation.

the blockchain group
The Blockchain Group’s share is up 3.42% on the day | Source: Yahoo! Finance

The Blockchain Group’s official website states that its pivot to Bitcoin is part of a broader strategy to optimize the use of its excess cash and financial instruments. Since its first BTC acquisition, the company’s stock has risen by 225%.

Corporate BTC Adoption To Grow In 2025

Corporate adoption of Bitcoin is expected to pick up even further in 2025, driven not only by the digital asset’s intrinsic value but also by a favorable regulatory environment under pro-crypto US President Donald Trump’s administration.

Related Reading: Metaplanet Acquires 269 BTC In Its First Bitcoin Purchase Of 2025 – Details

Earlier this week, the largest corporate holder of Bitcoin, Strategy, acquired an additional 6,911 coins, pushing its total holdings beyond 500,000 BTC. In the same vein, US-based financial services firm Fold Holdings announced the addition of 475 BTC to its corporate treasury earlier this month.

As corporate adoption grows, several US states have also begun legislative processes to add BTC to their treasuries. For instance, Utah and Kentucky have recently made significant strides with their BTC reserve bills.

Additionally, Mexican billionaire Ricardo Salinas recently revealed that close to 70% of his investment portfolio is allocated to Bitcoin and related assets. At press time, BTC trades at $86,838, down 1.1% in the last 24 hours.

bitcoin
BTC trades at $86,838 on the daily chart | Source: BTCUSDT on TradingView.com
Featured Image from Unsplash.com, charts from Yahoo! Finance and TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Ash Tiwari

Ash Tiwari

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Ash is a seasoned freelance editor and writer with extensive experience in the blockchain and cryptocurrency industry. Over the course of his career, he has contributed to major publications, playing a key role in shaping informative, timely content related to decentralized finance (DeFi), cryptocurrency trends, and blockchain innovation. His ability to break down complex topics has allowed both seasoned professionals and newcomers to the industry to benefit from his work. Beyond these specific roles, Ash's writing expertise spans a wide array of content, including news updates, long-form analysis, and thought leadership pieces. He has helped multiple platforms maintain high editorial standards, ensuring that articles not only inform but also engage readers through clarity and in-depth research. His work reflects a deep understanding of the rapidly evolving blockchain ecosystem, making him a valuable contributor in a field where staying current is essential. In addition to his writing work, Ash has developed a strong skill set in managing content teams. He has led diverse groups of writers and researchers, overseeing the editorial process from topic selection, approval, editing, to final publication. His leadership ensured that content production was timely, accurate, and aligned with the strategic goals of the platforms he worked with. This has not only strengthened his expertise in content strategy but also honed his project management and team coordination skills. Ash's ability to combine technical expertise with editorial oversight is further bolstered by his knowledge of blockchain analysis tools such as Etherscan, Dune Analytics, and Santiment. These tools have provided him with the data necessary to create well-researched, insightful articles that offer deeper market perspectives. Whether it’s tracking the movement of digital assets or analyzing blockchain transactions, his analytical approach adds value to the content he produces, ensuring readers receive accurate and actionable information. In the realm of content creation, Ash is not limited to just cryptocurrency markets. He has demonstrated versatility in covering other emerging technologies, market trends, and digital transformation across various industries. His in-depth research, coupled with a sharp editorial eye, has made him a sought-after professional in the freelance writing community. From developing editorial calendars to managing content delivery schedules, he has honed a meticulous approach to project management that ensures timely, high-quality work delivery. Throughout his freelance career, Ash has consistently focused on improving audience engagement through well-researched, insightful, and relevant content. His ability to adapt to the evolving needs of clients, whether it's enhancing the visibility of digital platforms or producing thought-provoking pieces for a wide range of audiences, sets him apart as a dynamic force in the field of digital content creation. His contributions have helped to shape a well-rounded portfolio that showcases his versatility, technical expertise, and dedication to elevating the standards of journalism in blockchain and related sectors.

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