Blockchain Group has just taken another big step in building its Bitcoin stash. The Paris-listed firm picked up 624 BTC on Tuesday in a deal worth $68.6 million.
Based on reports, that move pushes its total holdings to 1,437 BTC—now valued around $150 million. It’s clear the company wants to be known as a heavyweight when it comes to holding Bitcoin on its balance sheet.
Accelerated Bitcoin Purchases
Since late 2024, Blockchain Group has been buying Bitcoin in stages. Starting with 15 BTC for $1.1 million in November 2024, then adding 25 BTC the next month, the firm was easing its way in.
🟠 The Blockchain Group confirms the acquisition of 624 BTC for ~€60.2 million, the holding of a total of 1,471 BTC, and a BTC Yield of 1,097.6% YTD ⚡️
Full Press Release (EN): https://t.co/iZUEbRaDTZ
Full Press Release (FR): https://t.co/IgTddli8Hu
BTC Strategy (EN):… pic.twitter.com/0bQ9zaSRN3— The Blockchain Group (@_ALTBG) June 3, 2025
On March 26, they stepped up by buying 580 BTC. Then, on May 22, another 227 BTC went into their wallet. These steady buys show a growing appetite for Bitcoin as a core asset.
The latest 624 cryptocurrency buy is their biggest single haul yet. It’s a clear sign the group wants to make Bitcoin a foundation in its treasury.
Funding Through Convertible Bonds
Most of the recent Bitcoin buy—544 BTC—was funded by a $63 million convertible bond issued to Fulgur Ventures. Based on reports, the bond allows Blockchain Group to convert debt into shares later, if investors choose.
The rest—80 BTC—came from an almost $10 million capital raise completed in late May. That cash was specifically earmarked for crypto acquisition. Using debt and fresh capital, the firm seems bent on scaling up its Bitcoin holdings quickly. It also shows they’d rather raise funds than tap into existing cash reserves.
Custody And Partnerships
Blockchain Group worked with Banque Delubac & Cie and Swissquote Bank Europe to execute the BTC purchase. Both institutions partnered with Swiss firm Taurus to handle secure custody of the coins.
Image: Nomadic Labs
According to the company, using trusted custodians is key to keeping the digital assets safe. With these partnerships in place, Blockchain Group doesn’t need to worry about managing private keys on its own. That lets them focus on buying more Bitcoin instead of dealing with technical security issues.
Risk And Rewards For Shares
At current prices, the firm’s 1,437 BTC is worth a little over $150 million. As of May 31, the group reported an unrealized gain of nearly $48 million. That’s a healthy return on the earlier buys.
But Bitcoin’s price swings can be sharp. If BTC drops, those paper gains could vanish fast. Plus, issuing a $63 million convertible bond means possible share dilution if bondholders convert to equity.
Reports disclose that Blockchain Group plans to boost its “Bitcoin per share” figure through more targeted capital raises tied to crypto buys.
The big bet is that Bitcoin’s price will keep climbing, making these purchases worthwhile. Yet, if the market takes a downturn, investors could see both coin values and share prices slip.
Featured image from Unsplash, chart from TradingView
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