The blockchain group, a France-based blockchain solution company, recently announced Its largest bitcoin (BTC) buy so far and acquires 580 BTC. This marks the company’s third BTC acquisition since it started buying the digital asset in November 2024.
Blockchain group buys 580 bitcoin
In its most significant BTC acquisition so far, the Blockchain group has purchased 580 BTC for about $ 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.
In particular, the acquisition was funded through revenue from an convertible issuance of bonds announced on March 6. The move is in line with the company’s Bitcoin Treasury Strategy.
To remember, the Blockchain group made its first BTC purchase in November 2024 and acquired 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 about $ 97,692.
After the last acquisition, the company’s total BTC holds now at 620 BTC, with a total net asset value of just over $ 54 million at current market prices.
According to the data from Yahoo! Finance, Blockchain group’s share (altbg.pa) closed today’s trading session of € 0.4975 ($ 0.54), an increase of 3.09% on the day. This year, the company’s shares have increased by an impressive 65.78%, which indicates that its exposure to BTC has positively affected its valuation.
The Blockchain Group’s official website says its pivot to Bitcoin is part of a broader strategy to optimize the use of its surplus cash and financial instruments. Since the first BTC acquisition, the company’s share has increased by 225%.
Company BTC -Adoption to grow in 2025
Company adoption of bitcoin is expected to take up another 2025, is not only driven by the inherent value of digital asset but also by a favorable Regulatory environment under Pro-Crypto US President Donald Trump’s administration.
Earlier this week, the largest business owner of bitcoin, strategy, acquired Another 6,911 coins that operate their total holdings over 500,000 BTC. Similarly, US-based Financial Services Firm Fold Holdings announced The addition of 475 BTC to its corporate funds earlier this month.
As the company’s adoption grows, several US states have also begun legislative processes to add BTC to their treasury. For example, Utah and Kentucky has recently made significant progress with its BTC reserve bills.
In addition, recently Mexican billionaire Ricardo Salinas revealed That close to 70% of his investment portfolio is assigned to bitcoin and related assets. At press time, BTC is $ 86,838, a reduction of 1.1% over the past 24 hours.
Image from unsplash.com, chart from Yahoo! Finance and tradingview.com
Editorial process For Bitcoinist is centered on delivering thoroughly investigated, correct and impartial content. We maintain strict purchasing standards, and each page undergoes frequent review of our team of top technological experts and experienced editors. This process ensures integrity, relevance and value of our content for our readers.