French Blockchain Company Makes a Splash with 580 BTC Purchase! 💰

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Ah, the delightful world of cryptocurrency! The Blockchain Group, a rather ambitious French blockchain company, has decided to dip its toes into the Bitcoin pool with a rather extravagant splash. On the 26th of March, they announced the acquisition of a staggering 580 BTC for a princely sum of €47.3 million (or about $50.8 million, if you prefer your numbers in dollars). This little escapade brings their total Bitcoin hoard to a respectable 620 BTC. One must admire their commitment to this ever-so-charming cryptocurrency market! 💸

The Blockchain Group confirms the acquisition of 580 BTC for ~€47.3 million, the holding of a total of 620 BTC, and a BTC Yield of 709.8% YTD.

→ Confirmation of the acquisition of 580 BTC for ~€47.3 million at ~€81,550 per bitcoin

→ Total group holdings of 620 BTC for…

— The Blockchain Group (@_ALTBG) March 26, 2025

This little financial frolic was orchestrated through their fully owned subsidiary, The Blockchain Group Luxembourg SA, using funds raised from a convertible bond issuance—because who doesn’t love a good bond? This purchase elevates the firm’s Bitcoin holdings to a dazzling €50.5 million. Quite the treasure chest, wouldn’t you say?

The deal was executed with the finesse of a Swiss watch through Swissquote Bank Europe SA, a regulated virtual asset provider in Luxembourg, with custody handled by Taurus, a Swiss digital infrastructure firm. This acquisition is part of The Blockchain Group’s grand plan to transform into a Bitcoin Treasury Company, a strategy they began toying with back in November 2024. How avant-garde!

New Metrics to Track Bitcoin Growth

In their quest for Bitcoin glory, The Blockchain Group has introduced a delightful array of performance metrics to track their Bitcoin growth, focusing on BTC Yield, BTC Gain, and BTC € Gain. Because why not complicate things a tad more?

So far this year, they’ve achieved an impressive 709.8% BTC Yield, adding 283.9 BTC and a €23.15 million gain. These metrics are a testament to their focus on Bitcoin-based growth rather than those dreary traditional financial returns. How refreshingly modern!

Following The Footsteps of Microstrategy

Ah, MicroStrategy—now rebranded as Strategy—has set the bar so high that one might need a ladder to reach it. They’ve been using BTC Yield and BTC Gain to measure the success of their audacious Bitcoin strategy. Michael Saylor, the ever-enthusiastic leader, has even praised The Blockchain Group for adopting this same strategy, declaring, “BTC Yield, BTC Gain, and BTC € Gain have arrived in France.” How charmingly diplomatic!

Strategy may soon own over 1 million Bitcoin, which would account for about 5% of the total supply, according to Bernstein analysts. They predict Bitcoin could reach $200,000 by 2025, $500,000 by 2029, and a staggering $1 million by 2033. This would send Strategy’s earnings per share soaring from $67.50 to $207. Quite the financial fairy tale!

New Highs Ahead for Bitcoin?

On that fateful Thursday, March 26, 2025, Bitcoin (BTC) experienced a slight recovery, bouncing back to $87,600 after a brief dip to $85,900 as investors took their profits—because who doesn’t love a good profit? Bitcoin is holding steady above the $85,500 mark and could soon break through the $88,000 resistance. Additionally, Bitcoin ETFs are seeing significant inflows, with $27 million added in the past eight days, reflecting a growing institutional confidence in Bitcoin as a long-term investment. How positively optimistic!

Alankar Saxena, the CTO of Mudrex, believes that if Bitcoin reaches $90,000, a breakout could trigger liquidations, pushing the price to new heights. He notes that the next key resistance level is $89,500. One can only hope for a thrilling ride ahead! 🎢

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2025-03-27 10:23