French Blockchain Group Raises Total Bitcoin Holdings to $54 Million
The company's latest Bitcoin purchase has helped it enter the list of the world's top 30 Bitcoin holders, where Michael Saylor continues to dominate with his strategy.
France-based technology group The Blockchain Group has strengthened its position in the global Bitcoin holding community by purchasing an additional 580 BTC worth $50.64 million.
This latest purchase brings the total amount of Bitcoin owned by the company to 620 BTC, in line with the company's long-term strategy of accumulating and holding BTC as an important reserve asset.
Listed on Euronext Paris, The Blockchain Group has started its Bitcoin accumulation strategy since November 2024, aiming to optimize its cash reserves by purchasing BTC.
The latest acquisition was made through its wholly owned subsidiary, The Blockchain Group Luxembourg SA, and was funded through a convertible bond issuance announced in early March.
At the time of the announcement, Bitcoin was trading at $87,311, bringing the group’s total holdings to around $54 million.
The company’s accumulation strategy is driven by Bitcoin’s unique characteristics such as scarcity, security, and decentralization, as outlined on the company’s website.
The Blockchain Group’s initial purchases came amid major events such as the US presidential election and Bitcoin’s move above $100,000, allowing the company to enter the market with a strong position.
Shares of The Blockchain Group, trading under the ticker ALTBG, have risen from $0.16 per share on November 5 to $0.51 on Wednesday, according to data from Google Finance, marking a 220% increase since the company began accumulating Bitcoin.
To track the performance of its Bitcoin treasury strategy, the company has released key performance indicators (KPIs), including BTC Yield and BTC € Yield.
These metrics measure the percentage change in total Bitcoin holdings relative to outstanding shares, providing transparency to investors about the growth of the company’s Bitcoin assets.
The latest report shows that the company has achieved a BTC Yield of 709.8% year-to-date (YTD), indicating significant success in its Bitcoin acquisition strategy.
The company's latest acquisition puts The Blockchain Group among the top 30 global Bitcoin holders, a list that Michael Saylor's strategy still dominates, with over 500,000 BTC in hand.
The Bitcoin holdings of Michael Saylor, founder and chairman of Strategy, recently surpassed 500,000 BTC after its latest share sale. Strategy now holds a total of 506,137 BTC, worth $44.2 billion, according to a recent announcement from the company.
The Blockchain Group's move reflects a broader trend of major global companies adopting Bitcoin as part of their long-term financial strategies.
GameStop Corp., for example, recently announced plans to raise $1.3 billion to buy BTC, following the path Michael Saylor has outlined with his famous MicroStrategy strategy.
Another example is Japanese investment firm Metaplanet, which is also actively increasing its Bitcoin holdings. Metaplanet recently purchased another 150 BTC, bringing its total to 3,350 BTC, worth about $291 million.