Key Takeaways
- France-based The Blockchain Group has confirmed its acquisition of 580 Bitcoin as the stock surges to 226%.
- With the latest purchase, The Blockchain Group has a total holding of 620 BTC and a BTC yield of 709.8% YTD, says officials.
- As per available information, this is the largest of the three purchases made by The Blockchain Group.
- Earlier, the firm bought Bitcoins in November and December, during certain significant milestones for Bitcoin.
France-based Bitcoin treasury company, The Blockchain Group, is the talk of the town now. The company that has already made two Bitcoin purchases has confirmed its third and largest Bitcoin purchase on March 26. According to reports, The Blockchain Group has purchased 580 BTC last day. The officials suggest that the recent purchase is made after a 226% surge in its stock prices since the firm’s first purchase of Bitcoin back in November 2024.
According to the official confirmation, this is the largest Bitcoin purchase made by The Blockchain Group. As per the Bitcoin trading price at the publication of the purchase, this latest purchase of 580 Bitcoins equals $50.64 billion. The latest announcement on the purchase was made on March 26, however, only after the closing of the market for the day. While the other two purchases were made during times when Bitcoin made significant milestones, this purchase is a bit different.
The First Purchases of The Blockchain Group
As mentioned, the first two purchases of this Bitcoin treasury company had been during some significant milestones of the Bitcoin token. During the first purchase, the company bought 15 BTC. This purchase was made on November 5, 2024. This was the same day that Donald Trump won the United States presidential election. With this significant event in US politics, Bitcoin was positively affected. The token went on a month-long rally. The price of the token reached $100,000 for the first time in December.
Similarly, the second purchase was also made soon after, during an important period of Bitcoin. This was on December 4, 2024. During those days, Bitcoin was being traded at $96,000 and was anticipated to reach a six-figure price during the post-election rally. Interestingly, Bitcoin reached the anticipated price the very next day of the purchase.
However, as mentioned, things were a little different this time. Unlike November 5 and December 4, March 26 was not a major date for Bitcoin. However, it’s the last few days of the first quarter of 2025. According to expert analysis, this is an underperformed quarter for Bitcoin, as the performance is less than that of the first quarter last year. But, the official website of The Blockchain Group suggests that the latest Bitcoin purchase is a strategy to leverage the holding company’s excess cash to acquire financing instruments.
Bitcoin Strategy By Other Companies
Similar announcements and strategies were shared by other companies and firms as well. The Blockchain Group’s announcement came out the same day that GameStop announced plans to purchase Bitcoin, and their shares jumped almost 12%. The company announced a $1.3 billion convertible notes offering after the market closed on March 26, planning to finance its upcoming purchase through debt financing.
Strategy, the firm owned by Michael Saylor, the original advocate for corporate Bitcoin adoption, has also recently reached a milestone in Bitcoin holdings. The firm crossed the 500,000 Bitcoin benchmark with a 506,137 Bitcoin holding. Strategy reached this milestone with a 12-week consecutive Bitcoin buying streak.
Also Read: GameStop’s Bitcoin Acquisition Plan: GameStop Plans To Raise $1.3 Billion