The Blockchain Group’s latest purchase adds over $50 billion to its Bitcoin holdings as its stock continues to soar since its first BTC buy around Trump’s election win.
France-based The Blockchain Group has added another 580 Bitcoin to its Bitcoin treasury, following a 225% surge in its stock price since it began hoarding Bitcoin in November.
This is the largest of the three Bitcoin purchases made by the organization, per a March 26 after-hours statement. At the time of publication, 580 Bitcoin is worth $50.64 million, with Bitcoin’s price trading at $87,311, according to CoinMarketCap data.
First purchases at pivotal Bitcoin moments
The Blockchain Group’s first two Bitcoin purchases happened around significant milestones for the Bitcoin industry. It bought 15 BTC on Nov. 5, the same day Donald Trump won the United States presidential election and before Bitcoin went on a month-long rally that saw it reach $100,000 for the first time in December.
The second purchase was 25 Bitcoin on Dec. 4, when Bitcoin was trading at $96,000 during the post-election rally, with anticipation growing about a six-figure price — which happened the next day.
March 26 isn’t a major date for Bitcoin, but it’s five days before the end of Q1 2025 — a quarter where Bitcoin has underperformed compared to previous years’ first quarters — and it’s also approaching the first anniversary of the Bitcoin halving on April 20.
According to The Blockchain Group’s website, the Bitcoin strategy was an effort to leverage the holding company’s excess cash and appropriate financing instruments.
The Blockchain Group (ALTBG) is listed on Euronext Paris, Europe’s second-largest stock exchange by market cap.
The firm refers to itself as a “global umbrella” of companies specializing in data intelligence, AI and decentralized technology. Since it began its Bitcoin accumulation on Nov. 5, ALTBG has risen 225% to 0.48 euros ($0.52), according to Google Finance data.
The latest Bitcoin purchase was announced after the market already closed on March 26.