French Public Company The Blockchain Group Raises €63.3 Million to Buy More Bitcoin

Paris-based firm plans to acquire 590 additional BTC, bringing total holdings to 1,437 Bitcoin as corporate adoption trend accelerates

The Blockchain Group, a French public company listed on Euronext Paris, has successfully completed a €63.3 million ($72 million) convertible bond issuance to fuel its aggressive Bitcoin accumulation strategy. The company plans to use the proceeds to purchase approximately 590 additional Bitcoin, which would bring its total cryptocurrency holdings to 1,437 BTC.

🟠The Blockchain Group announces a convertible bond issuance of ~€63.3M to pursue its Bitcoin Treasury Company strategy, bringing its total potential holdings to ~1,437 BTC after completion⚡️

Full Press Release (EN): https://t.co/Vw2mGH84Dt

Full Press Release (FR):… pic.twitter.com/xDky2hrU4s

— The Blockchain Group (@_ALTBG) May 26, 2025

Major Investment Led by Fulgur Ventures

The bond sale was led by venture capital firm Fulgur Ventures, which contributed €55.3 million ($62.9 million) of the total amount, while crypto private investment fund Moonlight Capital invested €5 million ($5.7 million). The convertible bonds can be exchanged for shares in The Blockchain Group at a price of €3.809 ($4.34) per share.

With Bitcoin trading above $109,000, the raised capital could theoretically purchase around 658 BTC at current market prices. However, the company has specified that only 95% of the proceeds will be allocated to Bitcoin purchases, with the remaining 5% reserved for operational expenses and management fees.

Remarkable Stock Performance Amid Bitcoin Strategy

The Blockchain Group’s pivot to a Bitcoin treasury strategy has delivered extraordinary returns for shareholders. Trading under the ticker ALTBG on Euronext Paris, the company’s stock has surged an impressive 766% year-to-date, despite closing down 5.5% at €2.77 ($3.16) on May 26.

The company’s initial Bitcoin purchase announcement in November 2024 triggered an immediate 225% spike in share price, demonstrating strong investor appetite for corporate Bitcoin exposure. In its 2024 financial results released in April, The Blockchain Group reported a yield of over 709% from its Bitcoin holdings, even as total consolidated revenue decreased 32.1% to €13.86 million ($15.8 million) from the previous fiscal year.

Ambitious Long-Term Vision

The Blockchain Group has outlined an exceptionally ambitious long-term strategy, aiming to acquire 1% of Bitcoin’s total supply over the next eight years. This would translate to approximately 170,000 BTC by 2032, representing a massive expansion from their current holdings.

The company describes itself as focused on “increasing the number of Bitcoin per share over time by leveraging the holding company’s excess cash and appropriate financing instruments.” This strategy positions The Blockchain Group as Europe’s first publicly traded Bitcoin treasury company.

Part of Growing Corporate Bitcoin Adoption Trend

The Blockchain Group’s latest Bitcoin purchase reflects a broader movement among public companies adopting cryptocurrency as a treasury asset. Recent examples include Swedish health tech company H100 Group AB, which announced a Bitcoin-buying pivot on May 22, and Strive Asset Management, which declared its transition into a Bitcoin treasury company on May 7.

Even traditional finance giants are beginning to embrace Bitcoin exposure. Blackstone, the world’s largest alternative asset manager, made its first crypto investment by purchasing shares in BlackRock’s iShares Bitcoin Trust (IBIT). Meanwhile, Indonesian fintech firm DigiAsia Corp announced plans to raise $100 million for Bitcoin purchases, causing its stock to surge over 91%.

The corporate Bitcoin adoption trend is being driven by several factors, including Bitcoin’s potential as a hedge against inflation, long-term price appreciation prospects, and its theoretically lower correlation to traditional equity markets over extended periods.

Also Read: Hong Kong Food Company DDC Enterprise Launches Ambitious Bitcoin Treasury Strategy with 21 BTC Purchase

Market Context and Leadership

MicroStrategy remains the undisputed leader in corporate Bitcoin holdings, with 580,250 BTC valued at approximately $63 billion. The Virginia-based company recently announced plans to double its capital-raising efforts to $84 billion to acquire even more Bitcoin.

The Blockchain Group’s strategy comes at a time when Bitcoin has been trading above $109,000, having reached new all-time highs amid growing institutional adoption and favorable regulatory developments. The cryptocurrency’s performance has encouraged more companies to consider it as a legitimate treasury asset rather than merely a speculative investment.

Company Background

Founded as a technology consulting firm, The Blockchain Group has transformed itself into a Bitcoin-focused investment vehicle. The company operates through its Luxembourg subsidiary and continues to maintain its operational activities while pursuing its cryptocurrency accumulation strategy.

As Bitcoin’s supply remains fixed at 21 million coins, The Blockchain Group’s goal of owning 1% of the total supply represents a significant bet on the long-term value appreciation of the world’s largest cryptocurrency. The company’s approach of using convertible bonds to fund Bitcoin purchases provides a template that other public companies may follow as corporate adoption continues to accelerate.

The success of The Blockchain Group’s Bitcoin strategy will be closely watched by investors and other companies considering similar treasury diversification moves, particularly as traditional financial institutions increasingly embrace cryptocurrency investments.

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