{"id":125907,"date":"2025-03-27T05:15:37","date_gmt":"2025-03-27T05:15:37","guid":{"rendered":"http:\/\/cryptospotters.net\/?p=125907"},"modified":"2025-03-27T05:15:37","modified_gmt":"2025-03-27T05:15:37","slug":"the-blockchain-group-adds-580-btc-as-stock-jumps-226-since-bitcoin-pivot","status":"publish","type":"post","link":"http:\/\/cryptospotters.net\/?p=125907","title":{"rendered":"The Blockchain Group adds 580 BTC as stock jumps 226% since Bitcoin pivot"},"content":{"rendered":"<p>Source: Cointelegraph.com NewsFrance-based The Blockchain Group has added another 580 Bitcoin to its Bitcoin treasury, following a 225% surge in its stock price since it began hoarding Bitcoin in November.<br \/>\nThis is the largest of the three Bitcoin purchases made by the organization, per a March 26 after-hours statement. At the time of publication, 580 Bitcoin is worth $50.64 million, with Bitcoin\u2019s (BTC) price trading at $87,311, according to CoinMarketCap data.<br \/>\nFirst purchases at pivotal Bitcoin moments<br \/>\nThe Blockchain Group\u2019s first two Bitcoin purchases happened around significant milestones for the Bitcoin industry. It bought 15 BTC on Nov. 5, the same day Donald Trump won the United States presidential election and before Bitcoin went on a month-long rally that saw it reach $100,000 for the first time in December.<br \/>\nBitcoin is up 24.38% over the past 12 months. Source: CoinMarketCapThe second purchase was 25 Bitcoin on Dec. 4, when Bitcoin was trading at $96,000 during the post-election rally, with anticipation growing about a six-figure price \u2014 which happened the next day.<br \/>\nMarch 26 isn\u2019t a major date for Bitcoin, but it\u2019s five days before the end of Q1 2025 \u2014 a quarter where Bitcoin has underperformed compared to previous years\u2019 first quarters \u2014 and it\u2019s also approaching the first anniversary of the Bitcoin halving on April 20.<br \/>\nAccording to The Blockchain Group\u2019s website, the Bitcoin strategy was an effort to leverage the holding company\u2019s excess cash and appropriate financing instruments.<br \/>\nThe Blockchain Group (ALTBG) is listed on Euronext Paris, Europe\u2019s second-largest stock exchange by market cap.<br \/>\nThe firm refers to itself as a \u201cglobal umbrella\u201d of companies specializing in data intelligence, AI and decentralized technology. Since it began its Bitcoin accumulation on Nov. 5, ALTBG has risen 225% to 0.48 euros ($0.52), according to Google Finance data.<br \/>\nThe latest Bitcoin purchase was announced after the market already closed on March 26.<br \/>\nBlockchain Group SA stock has soared since it announced its Bitcoin accumulation. Source: Google FinanceIt comes on the same day that GameStop shares jumped nearly 12% after the company announced plans to purchase Bitcoin.<br \/>\nThe company plans to finance the purchase through debt financing. After markets closed on March 26, GameStop announced a $1.3 billion convertible notes offering.<br \/>\nRelated: Bitcoin must break this level to resume bull market as $2.4B in BTC leaves exchanges<br \/>\nN7 Capital founder Anton Chashchin said in a recent statement viewed by Cointelegraph, \u201cIt\u2019ll be interesting to observe if other companies take up the baton from GameStop and where this will lead the market.\u201d<br \/>\nMeanwhile, US-based angel investor Jason Calacanis said buying Bitcoin was a solution well-suited for public companies that do not have a suitable business model.<br \/>\nMichael Saylor, the original advocate for corporate Bitcoin adoption, has led his firm, Strategy, to recently cross the 500,000 Bitcoin mark, currently holding 506,137 Bitcoin.<br \/>\nBetween November and January, Strategy maintained a 12-week consecutive Bitcoin buying streak.<br \/>\nMagazine: Ex-Alameda hire on \u2018pressure\u2019 to not blow up Backpack exchange: Armani Ferrante, X Hall of Flame<br \/>\nThis article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.<a href=\"https:\/\/cointelegraph.com\/news\/the-blockchain-group-580-bitcoin-purchase-stock-price-surges-btc-strategy?utm_source=rss_feed&amp;utm_medium=rss&amp;utm_campaign=rss_partner_inbound\" target=\"_blank\" class=\"feedzy-rss-link-icon\" rel=\"noopener\">Read More<\/a><\/p>","protected":false},"excerpt":{"rendered":"<p>Source: Cointelegraph.com NewsFrance-based The Blockchain Group has added another 580 Bitcoin to its Bitcoin treasury, following a 225% surge in its stock price since it began hoarding Bitcoin in November.&hellip; <\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[5],"tags":[],"_links":{"self":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125907"}],"collection":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=125907"}],"version-history":[{"count":0,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=\/wp\/v2\/posts\/125907\/revisions"}],"wp:attachment":[{"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=125907"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=125907"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptospotters.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=125907"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}