Key Takeaways
- Blockchain Group has purchased 580 Bitcoin, worth over $50 million.
- The company's stock has surged 226% since its first Bitcoin buy on November 5.
- This is Blockchain Group's third Bitcoin purchase, following buys in November and December.
France-based Blockchain Group has added 580 Bitcoin to its holdings, marking its largest Bitcoin purchase to date.
The acquisition was announced after market close on March 26, and at current prices, the purchase is valued at approximately $50.64 million.
Strategic shift toward Bitcoin
This move follows the company’s strategic shift toward Bitcoin, which began on November 5, coinciding with Donald Trump’s U.S. presidential election win.
On that day, the firm purchased 15 Bitcoin — just before a rally that saw Bitcoin reach $100,000 by December.
A second purchase of 25 Bitcoin came on December 4, just ahead of Bitcoin crossing six figures.
Stock performance
Since the initial November acquisition, Blockchain Group’s stock (ALTBG), traded on Euronext Paris, has surged 226%, now sitting at €0.48 ($0.52), according to Google Finance.
The company has described its Bitcoin strategy as a way to deploy excess cash and financial instruments more effectively.
Company overview
The company, which refers to itself as a “global umbrella” for businesses in data intelligence, AI, and decentralized technology, made its latest Bitcoin purchase in the final days of Q1 2025 — a period during which Bitcoin has underperformed compared to previous years.
Market implications
The March 26 announcement coincided with GameStop’s disclosure of its own plans to buy Bitcoin, paired with a $1.3 billion convertible note offering.
Anton Chashchin, founder of N7 Capital, said:
It’ll be interesting to observe if other companies take up the baton from GameStop and where this will lead the market.
