France-based tech company The Blockchain Group has deepened its investment in Bitcoin, acquiring 580 BTC for $50.64 million. This latest purchase brings its total Bitcoin holdings to 620 BTC, aligning with its long-term strategy of holding Bitcoin as a key reserve asset.
The transaction was completed through the company’s Luxembourg-based subsidiary, with funding sourced from a convertible bond issuance announced earlier in March. At the time of the acquisition, Bitcoin was trading at $87,311, pushing the total value of The Blockchain Group’s holdings to approximately $54 million.
At the time of the purchase, Bitcoin was trading at $87,311, bringing the total value of the company’s BTC holdings to approximately $54 million.
The Blockchain Group’s Bitcoin strategy has coincided with a significant surge in its stock price. Trading under the ticker ALTBG, its stock has climbed from $0.16 per share on November 5 to $0.51, marking an increase of 220% since the company started accumulating BTC.
To monitor the impact of its Bitcoin holdings, the company has introduced key performance indicators (KPIs) such as BTC Yield, BTC Gain, and BTC € Gain. These metrics offer transparency into Bitcoin’s effect on the company’s financial performance, measuring the ratio of BTC holdings to shares outstanding.
As of the latest report, The Blockchain Group has achieved a BTC Yield of 709.8% YTD, highlighting the effectiveness of its accumulation strategy.
Following the Strategy Playbook
The Blockchain Group’s aggressive Bitcoin strategy mirrors the approach of Michael Saylor’s Strategy (formerly MicroStrategy), which remains the largest corporate holder of Bitcoin, currently owning 506,137 BTC worth over $44.2 billion.
Saylor’s firm recently announced another BTC acquisition, purchasing 6,911 BTC for $584.1 million, continuing its strategy of using company funds and stock sales to accumulate Bitcoin.
The Blockchain Group is part of a growing wave of companies integrating Bitcoin into their financial strategies. Recent corporate Bitcoin adopters include:
- GameStop Corp., which announced plans to raise $1.3 billion to purchase Bitcoin.
- Metaplanet, a Japanese investment firm that added 150 BTC, bringing its total holdings to 3,350 BTC valued at $291 million.
