Catenaa, Sunday, June 01, 2025-French crypto holding firm Blockchain Group announced plans Monday (26) to purchase $72 million worth of Bitcoin following a successful €63.3 million convertible bond sale, in a bold move to expand its Bitcoin treasury strategy and secure a larger share of the digital asset’s limited supply.
The company, listed on Euronext Paris under the ticker ALTBG, said the purchase would increase its total Bitcoin holdings to 1,437 BTC. Its long-term ambition is to own 1% of Bitcoin’s total supply—approximately 170,000 BTC—by 2032.
The bond raise was led by Fulgur Ventures, which invested €55.3 million, alongside a €5 million commitment from Moonlight Capital. The bonds are convertible into company shares at €3.809 per share.
ALTBG stock closed down 5.5% on May 26 at €2.77 but has surged 766% year-to-date, largely driven by Bitcoin-related announcements.
The company noted that 95% of the bond proceeds will go toward Bitcoin acquisition, with the remainder covering operational costs. Blockchain Group has already reported a 709% yield on its BTC holdings, despite a 32% annual revenue decline in 2024.
The announcement aligns with a broader corporate trend. Asset management giant Blackstone disclosed a $1.08 million purchase of IBIT shares, while Swedish firm H100 Group and Indonesian fintech DigiAsia also announced plans to allocate reserves to Bitcoin.
