The publicly traded company in France, The Blockchain Group (TBG), acquired an additional 182 Bitcoin for €17.0 million (approximately $19 million) on 18 June, with the company’s total holding nearing 1,653 BTC at the time of writing.
This latest purchase, executed at a time when Bitcoin’s price hovers around weekly lows, reflects a strategic move initiated with the company’s Bitcoin Treasury model launched in November 2024.
As per the official announcement, the company has received a BTC yield of 1,173.2% year-to-date (YTD), with their total holding currently valued at approximately $173.56 million.
The Blockchain Group’s Bitcoin acquisition strategy leverages excess cash and financing instruments to increase Bitcoin per share, a strategy bolstered by a €300 million capital raise program with Paris-based asset manager TOBAM.
Following MicroStrategy (Strategy), The Blockchain Group and various other companies have now joined the race to acquire Bitcoin for their corporate strategies. This trend has fueled growing institutional confidence in Bitcoin as a store of value.
Despite the stringent Markets in Crypto-Assets Regulation (MiCA) framework enforced across the EU from 2024, this regulatory environment has not deterred French crypto firms like Ledger and Coinhouse, and now The Blockchain Group, from embracing Bitcoin.
Also read: Analyst Predicts Bitcoin Price to Hit $3 Million: Here’s How and When
