Paris-Based Blockchain Group Plans $72M Bitcoin Purchase After Bond Sale

Adoption Bitcoin

Crypto Journalist

Amin Ayan

Crypto Journalist

Amin Ayan

About Author

Amin Ayan is a crypto journalist with over four years of experience in the industry. He has contributed to leading publications such as Cryptonews, Investing.com, 99Bitcoins, and 24/7 Wall St. He has...

Author Profile

Share

Copied

Last updated: 

May 27, 2025

Why Trust Cryptonews

Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews

French crypto holding company Blockchain Group has announced plans to purchase an additional $72 million worth of Bitcoin following a successful €63.3 million bond sale, as it expands its aggressive treasury strategy.

The company, listed on Euronext Paris under the ticker ALTBG, intends to acquire 590 BTC with the proceeds, which would push its total Bitcoin holdings to 1,437 BTC.

At current prices around $109,000 per Bitcoin, the raised capital could technically buy around 658 BTC, but the firm clarified that 95% of the funds will be allocated to Bitcoin, with the rest reserved for operating costs and management fees.

Fulgur Ventures Leads €55.3M Investment in Blockchain Group Bond Sale

Venture capital firm Fulgur Ventures led the funding with a €55.3 million investment, while Moonlight Capital contributed €5 million.

The bonds are convertible into Blockchain Group shares at €3.809 per share.

Despite closing down nearly 5.5% on May 26 at €2.77, ALTBG stock has posted an extraordinary 766% gain year-to-date, following the company’s initial Bitcoin purchase in November 2023.

That move alone triggered a 225% jump in the stock price at the time.

Blockchain Group’s 2024 earnings, released in late April, showed a 709% yield from its Bitcoin holdings, even as total annual revenue fell 32% to €13.86 million.

The company has outlined an ambitious long-term goal of acquiring 1% of Bitcoin’s total supply, roughly 170,000 BTC, by 2032.

The announcement comes amid a growing trend of public firms adopting Bitcoin as a treasury asset.

On May 22, Sweden’s H100 Group AB joined the list, while Strive Asset Management announced a similar pivot earlier this month.

With a shrinking supply and rising institutional interest, Blockchain Group’s aggressive Bitcoin strategy aligns with broader moves by companies seeking long-term exposure to the leading digital asset.

Blackstone Makes First Crypto Move

On May 20, Blackstone, the world’s largest alternative asset manager, made its first move into crypto markets, purchasing shares in BlackRock’s iShares Bitcoin Trust (IBIT), a spot Bitcoin exchange-traded fund.

According to a filing with the U.S. Securities and Exchange Commission, Blackstone acquired 23,094 IBIT shares as of March 31, valued at approximately $1.08 million.

Prior to that, shares of Indonesian fintech firm DigiAsia Corp surged by over 91% on May 19, after the Nasdaq-listed company announced plans to raise $100 million to initiate Bitcoin purchases as part of a new treasury strategy.

The Jakarta-based firm revealed that its board has approved the creation of a Bitcoin treasury reserve.

DigiAsia says it intends to allocate up to 50% of its net profits toward acquiring Bitcoin, signaling a shift in how it plans to manage its capital amid growing corporate interest in digital assets.

Notably, public companies continue to increase their exposure to Bitcoin, with Michael Saylor’s firm, Strategy, leading the charge.

The Virginia-based company recently announced it would double its capital-raising efforts to $84 billion in order to acquire more Bitcoin.