The Blockchain Group buys bitcoin worth $69 million, total holdings now at 1,471 BTC
Quick Take The French firm said Tuesday that it has completed the purchase of 624 BTC for about $68.7 million. This brought its total holdings to 1,471 BTC.
The Blockchain Group, a France-based tech consulting firm, has acquired 624 BTC for roughly €60.2 million ($68.7 million), marking its largest purchase since launching its Bitcoin accumulation strategy.
With this latest purchase, the company and its subsidiary, The Blockchain Group Luxembourg SA, now hold a total of 1,471 BTC acquired for €131.9 million at about €89,687 per bitcoin, according to a statement released Tuesday.
"The company thus reinforces its Bitcoin accumulation strategy, while continuing to develop the operational activities of its subsidiaries," said the French company, which is listed on Euronext Growth Paris.
The company's stock opened higher at €3.18 on Tuesday, up from Monday’s close of €2.93, but has since retraced to €2.93 at the time of writing, according to Euronext data . The stock is still trading.
The Blockchain Group is among a growing number of firms accumulating Bitcoin. Strategy, led by Michael Saylor, remains the largest publicly traded corporate holder of Bitcoin, announcing on Monday its latest purchase of 705 BTC . That brings its total holdings to 580,955 BTC. Strategy also seeks to sell 2.5 million shares of perpetual preferred shares called Stride as part of its ongoing effort to expand its Bitcoin holdings.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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