The Blockchain Group has taken another major step towards building Bitcoin Stash. The Paris-listed company won 624 BTC on Tuesday in a transaction worth $68.6 million.
Based on the report, That Move will push its total holdings to 1,437 BTC. This is worth around $150 million. When it comes to holding Bitcoin on the balance sheet, it is clear that the company wants to be known as the heavyweight.
Accelerated Bitcoin Purchase
Since the second half of 2024, Blockchain Group has been purchasing Bitcoin in stages. The company had eased that path with starting at $1.1 million starting in November 2024 and adding 25 BTC the following month.
The Blockchain Group confirms acquisition of 624 BTC of 60.2 million euros, total holdings of 1,471 BTC, and a BTC yield of 1,097.6% YTD.
Full Press Release (EN): https://t.co/izuebradtz
Full Press Release (FR): https://t.co/igtddli8hu
BTC Strategy (EN):… pic.twitter.com/0bq9zasrn3– Blockchain Group (@_altbg) June 3, 2025
On March 26th, they stepped up by purchasing 580 BTC. Then, on May 22nd, another 227 BTC came into my wallet. These stable purchases indicate a growing appetite for Bitcoin as a core asset.
The latest 624 cryptocurrency purchases are their biggest single distance. This is a clear indication that the group wants to make Bitcoin the basis of its Treasury.
Funding through convertible bonds
The majority of recent Bitcoin purchases (544 BTC) were funded by $63 million convertible bonds issued to Fulgur Ventures. Based on the report, the bond allows the blockchain group to convert stocks into stocks later, if the investor chooses.
The remaining 80 BTC comes from the nearly $10 million capital raises completed in late May. That cash was specifically allocated for crypto acquisitions. Using debt and fresh capital, the company appears to be succumbing to rapidly expanding its Bitcoin holdings. It also shows that they will raise funds rather than leveraging existing cash reserves.
Kunitty and partnership
Blockchain Group has collaborated with Banke Delubac & Cie and Swissquote Bank Europe to carry out the BTC purchase. Both agencies have partnered with Taurus, the Swiss company, to handle the secure custody of the coin.
Image: Nomadic Labs
The company says using trustworthy custodians is key to keeping your digital assets safe. With these partnerships in place, blockchain groups do not have to worry about managing their private keys alone. This allows you to focus on buying more Bitcoin instead of addressing technical security issues.
Stock risk and rewards
At current prices, the company’s 1,437 BTC is worth just over $150 million. As of May 31, the group reported nearly $48 million unrealized profits. That’s the healthy profits of previous shopping.
However, Bitcoin price fluctuations can be sharp. When BTC drops, these paper profits can disappear quickly. Furthermore, if the bondholder converts equitably, issuing $63 million in converting bonds means possible stock dilutions.
The report reveals that the Blockchain Group plans to increase the “bitcoin per bitcoin” figure through more targeted capital related to encryption.
The big bet is that the price of Bitcoin continues to rise and make these purchases worthwhile. However, when the market takes a recession, investors can see both the value of the coin and the stock price slip.
Unsplash featured images, TradingView charts
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