Blockchain group adds 580 BTC as stock jumps 226%

French holding company The Blockchain Group has acquired 580 Bitcoin (CRYPTO:BTC), valued at about $50.6 million, marking its third purchase since November 2024.

The latest acquisition, announced on March 26, brings the company’s total Bitcoin holdings to 620 BTC.

Previous purchases included 15 BTC on November 5, coinciding with Donald Trump’s U.S. election victory, and 25 BTC on December 4, when Bitcoin neared $96,000.

The company has leveraged excess cash and financing instruments to diversify its portfolio, while its Euronext Paris-listed stock (ALTBG) has surged 226% since adopting its Bitcoin strategy.

ALTBG shares climbed from €0.15 to €0.48 ($0.52) amid investor optimism, despite The Blockchain Group’s core operations focusing on data intelligence, AI, and decentralised technology.

The timing of the announcement aligns with Bitcoin’s upcoming April 20 halving anniversary and growing corporate interest in BTC as a treasury asset.

GameStop recently revealed plans to raise $1.3 billion for Bitcoin purchases, fueling speculation about broader corporate adoption.

Anton Chashchin of N7 Capital noted that other firms may follow GameStop’s lead, while investor Jason Calacanis argued that Bitcoin adoption suits companies with weaker business models.

Michael Saylor’s Strategy, a leader in corporate Bitcoin accumulation, now holds over 506,000 BTC after a 12-week buying spree.

While The Blockchain Group’s purchases are smaller, its approach highlights growing institutional interest in Bitcoin as a reserve asset.

Unlike U.S. firms that integrate Bitcoin into operations, The Blockchain Group treats BTC as a financial hedge, relying on debt financing.

Market volatility and macroeconomic conditions will likely influence future adoption, but ALTBG’s stock performance suggests investors view its Bitcoin strategy as a key growth driver.

At the time of reporting, the Bitcoin (BTC) price was $87,408.84.