French firm buys 580 BTC

The Blockchain Group, a French holding company, has acquired 580 Bitcoin (CRYPTO:BTC) for approximately €47.3 million ($50.8 million), expanding its treasury holdings to 620 BTC.

The purchase, executed at an average price of €81,550 per BTC, aligns with the firm’s strategy to transition into a Bitcoin-focused treasury company.

“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,” Deputy CEO Alexandre Laizet announced via X, revealing the acquisition.

The metric reflects a notional increase of 283.9 BTC and a euro-denominated gain of €23.15 million, calculated using new performance indicators like BTC Yield and BTC Gain.

The deal was facilitated through Swissquote Bank Europe SA, with custody provided by Taurus.

Laizet described the firm as “Europe’s First Bitcoin Treasury Company,” adopting a strategy launched in November 2024 to prioritise Bitcoin accumulation over traditional financial returns.

“BTC Yield, BTC Gain, and BTC € Gain have arrived in France,” Michael Saylor, Executive Chairman of Strategy (formerly Microstrategy), acknowledged the move.

Laizet credited Saylor’s leadership and Bitcoin advocates Dylan LeClair and Gerovich for influencing their approach.

The Blockchain Group’s stock (ALTBG) has surged 225% since initiating its Bitcoin strategy, reflecting investor confidence in the pivot.

However, the firm’s reliance on debt financing and focus on Bitcoin-specific metrics—rather than traditional profitability—sets it apart from conventional corporate treasuries.

While the 709.8% BTC Yield figure highlights Bitcoin’s price appreciation, critics note it excludes operational costs and market risks.

The strategy mirrors trends of companies using Bitcoin as a reserve asset, though The Blockchain Group’s execution remains distinct in its European context.

Laizet’s emphasis on Bitcoin-denominated growth underscores a broader shift toward alternative financial frameworks.

Whether the model sustains long-term viability remains uncertain, but the firm’s transparency in tracking Bitcoin-specific metrics offers a case study for crypto integration in corporate finance.

At the time of reporting, the Bitcoin (BTC) price was $87,476.75.