Paris-based Blockchain Group has purchased 624 Bitcoin for $68.7 million, further solidifying its position as one of Europe’s most active corporate holders of crypto.
With this latest acquisition, the company currently holds a total of 1,471 BTC, as it continues to pursue a long-term goal of accumulating up to 260,000 BTC by 2034.
The firm, which describes itself as “Europe’s first Bitcoin Treasury company”, made the purchase using funds from a €63.3 million convertible bond issued to Fulgur Ventures, in addition to profits made from a recent €8.6 million capital raise.
According to the company, the BTC was acquired through Banque Delubac & Cie and Swissquote Bank Europe, with custody provided by Swiss digital asset platform, Taurus.
“We’re building a Bitcoin fortress,” said Alexandre Laizet, Deputy CEO of The Blockchain Group, in a recent press statement. “Our goal is to increase the number of Bitcoins per share over time.”
A strategic shift toward Bitcoin as a core treasury asset
The Blockchain Group first purchased 15 BTC in November 2024 to kickstart its Bitcoin treasury strategy. Since then, it has greatly increased the size of its purchase, acquiring 580 BTC in March 2025 and 227 BTC in May, before the latest acquisition of 624 BTC.
According to an X post by the firm on Tuesday, the total purchase has gained a BTC yield of 1,097.6% YTD.
As of May 31, The Blockchain Group also reported an unrealized gain of approximately $47.88 million on its Bitcoin reserves. To maintain this tempo, the company plans to continue the accumulation strategy with the goal of owning up to 1.24% of Bitcoin’s fixed supply over the next decade.
This strategy is similar to that of MicroStrategy, a U.S.-based company that has grown to be the largest public holder of Bitcoin. Even though regulatory developments in Europe regarding digital assets are still uncertain, The Blockchain Group’s most recent action is indicative of a growing trend among European businesses to treat Bitcoin as a strategic treasury reserve.
Rising institutional confidence as crypto markets stabilize
At the time of this writing, Bitcoin is currently trading between $103,000 and $108,000 after hitting a new all-time high of $112,000 on May 22. The accumulation coincides with bigger firms’ interest in Bitcoin, which has been quickened by recent regulatory developments such as the approval of U.S. spot Bitcoin ETFs in January 2025.
According to Ryan Lee, chief analyst at Bitget Research, the ongoing accumulation of Bitcoin by corporate and institutional “whales” is an indication of confidence in Bitcoin’s long-term value.
“Onchain data shows continued whale accumulation, which shows a bullish signal; this frames any further corrections as a potential entry point,” Lee said in an interview with CoinTelegraph.
