Europe’s first Bitcoin Treasury company, The Blockchain Group has acquired 580 BTC in a latest transaction, marking the firm’s third and largest purchase of Bitcoin. This purchase has now put the company’s total holding to 620 BTC.
As per the official release, the subsidiary of the company, Blockchain Group Luxembourg SA, made a purchase of 580 BTC for ~€47.30 million (approximately $51 million) while spending nearly €81,550 per bitcoin with the proceeds of the convertible bond issuance.
The company first purchased 15 BTC in November 2024 at an average price of €63,729 per BTC while the second time it bought 25 BTC on December 4, 2024 at a price of €90,511 per BTC. As of now, the company’s total Bitcoin holding is 620 BTC, valued $54.25 million as of Bitcoin’s latest price.
The Deputy CEO and Director of Bitcoin Strategy of The Blockchain Group, Alexandre Laizet recently shared a post on X, advocating for Bitcoin as a real store of value asset.
“If a company is not adding Bitcoin to its balance sheet, it is likely going to the ground as a stablecoin, and that is a future scenario for any company that does not acquire Bitcoin,” he said.
While stating the company’s finances, Laizet said that The Blockchain Group is up 300% in the past 6 months on its BTC holding while CAC40, the index of top 40 companies in France, is only up 7% for the period.
As crypto adoption continues to grow, more and more companies are jumping into the race with acquiring Bitcoin for their treasuries. At the time of writing, BTC price is trading near $87,500 – up nearly 25% in the past year.
Also read: GameStop follows MicroStrategy, raises $1.3B for Bitcoin buy
