The Blockchain Group Adds Another 580 BTC to Bitcoin Treasury Amid Stock Price Surge
French tech firm The Blockchain Group has bolstered its Bitcoin holdings with the purchase of 580 BTC, marking its largest acquisition to date. The announcement came in a March 26 after-hours statement, revealing that the latest buy brings the company’s Bitcoin treasury to new heights, with the purchase valued at approximately $50.64 million based on current prices. The move follows a sharp 225% rise in The Blockchain Group’s stock (ALTBG) since it began accumulating Bitcoin in November 2024.
Blockchain Group’s Bitcoin Buys Coincide with Key Crypto Market Milestones
Listed on Euronext Paris, the firm describes itself as a global umbrella organization focused on AI, data intelligence, and decentralized technologies. The company’s previous two Bitcoin purchases were strategically timed around significant events in the crypto space. It acquired 15 BTC on November 5 — the day Donald Trump won the U.S. presidential election — ahead of a major rally that saw Bitcoin reach $100,000 by December. A second buy of 25 BTC occurred on December 4, just as market enthusiasm was building toward Bitcoin’s six-figure milestone, which it hit the following day. While March 26 does not align with a specific Bitcoin event, the timing is notable. The purchase comes five days before the close of Q1 2025 — a quarter that has underperformed compared to past first quarters — and just weeks ahead of the Bitcoin halving anniversary on April 20. The Blockchain Group has stated that its Bitcoin accumulation strategy is aimed at optimizing excess cash reserves and utilizing appropriate financing instruments.
The latest purchase was also announced on the same day GameStop saw its stock climb nearly 12% following its own Bitcoin acquisition plans and a $1.3 billion convertible notes offering. Industry experts are closely watching this trend. N7 Capital founder Anton Chashchin said it remains to be seen if more companies will follow GameStop’s lead. Meanwhile, investor Jason Calacanis argued that Bitcoin represents an appealing option for public companies lacking scalable business models. MicroStrategy, led by outspoken Bitcoin proponent Michael Saylor, recently surpassed 500,000 BTC in holdings, highlighting a broader trend of corporate adoption.
41 Bitcoin Reserve Bills Emerge Across 23 States
The Blockchain Group’s recent purchase comes amid a growing wave of similar legislation nationwide. So far 41 Bitcoin reserve bills have been introduced in 23 states, with 35 still under consideration. Just recently, Kentucky Governor Andy Beshear officially signed House Bill 701, known as the “Bitcoin Rights” bill, into law—making the state one of the latest to enact legislation protecting digital asset users and operations. Other states are making similar moves. Oklahoma’s Strategic Bitcoin Reserve Act (HB 1203), introduced by Representative Cody Maynard, recently passed the House with a 77-15 vote and is awaiting a Senate decision. According to Bitcoin Laws, Oklahoma now ranks alongside Texas in second place in the race to establish state-level Bitcoin reserves. Missouri is also in the mix, with its Special Committee on Intergovernmental Affairs reviewing its own Bitcoin reserve proposal. In a related development, two key Bitcoin bills in Arizona cleared the House Rules Committee on March 24.