French tech company The Blockchain Group has just made its biggest bitcoin purchase ever. The acquisition of 580 BTC, valued at around $50 million, was announced on March 26.
This latest addition brings the company’s total bitcoin holdings to 620 BTC as it cements its position as a major corporate bitcoin investor.
Since November 2024, The Blockchain Group has been buying bitcoin, becoming the first European company to adopt a bitcoin reserve strategy.
The company’s first purchase of 15 BTC was in November, when Donald Trump won the U.S. election. Then 25 BTC on December 4, just before bitcoin hit $100,000. This is its biggest purchase to date, showing the company is confident in its strategy.
Alexandre Laizet, Deputy CEO and Bitcoin Strategy Director at The Blockchain Group said on X:
“The Blockchain Group has acquired 580 BTC for ~€47.3 million at ~€81,550 per bitcoin and has achieved BTC Yield of 709.8% YTD. As of 3/26/2025, we hold 620 BTC for ~€50.5 million at ~€81,480 per bitcoin.”
Laizet also calls The Blockchain Group “Europe’s First Bitcoin Treasury Company”. The company is following Strategy’s lead, which has been a pioneer in corporate bitcoin adoption.
The Blockchain Group’s bitcoin strategy is working. Since it started buying BTC in November 2024, its stock (ALTBG) is up 256% and is trading at 0.508 euros ($0.52) on Euronext Paris. This increase shows that investors are loving the bitcoin-focused approach.
The purchase also coincided with GameStop’s announcement to invest in bitcoin.
March 26 is not a big Bitcoin day but the timing is interesting. It’s 5 days before the end of Q1 2025, a quarter where bitcoin has underperformed compared to previous years.
The company also introduced metrics to track its bitcoin investments: BTC Yield, BTC Gain and BTC € Gain. These metrics measure the company’s bitcoin accumulation and returns, not traditional financial performance.
Analysts expect a rally coming for bitcoin. A classic inverse Head & Shoulders is forming on the 3-day chart, according to SuperBitcoinBro on X, a bullish sign that could take bitcoin to $95,000.
The analyst commented: “That’s just the target for this smaller pattern. If it plays out, we could see six-figure gains from patterns on higher time frames.”
The MACD line is crossing above the signal line and the histogram bars are getting smaller, another sign of increasing upward momentum. If bitcoin breaks above $87,600 it could see a rally to $91,000 and maybe $95,000.
The Blockchain Group is part of a bigger trend of companies holding bitcoin as a reserve asset. Strategy led by Michael Saylor just crossed 500,000 BTC in reserves, further solidifying bitcoin’s place in corporate treasuries.
Saylor who has been a long-time advocate of Bitcoin for corporations replied to Laizet on X:
This is not limited to companies. 41 Bitcoin reserve bills have been introduced across 23 US states, of which 35 are still pending. States like Kentucky, Oklahoma and Missouri are actively exploring bitcoin reserve strategies, signaling a validation of bitcoin as a financial asset.
