Crypto Whale Alert: Blockchain Giant Gobbles Up 624 BTC in $68M Power Move
Talk about putting your money where your mouth is. While traditional finance bros were busy shorting ETFs, an unnamed blockchain player just dropped a cool $68 million on 624 Bitcoin—proving once again that crypto’s true believers aren’t messing around.
This isn’t your grandma’s ’dollar-cost averaging’—it’s a full-throttle bet on Bitcoin’s staying power. The purchase shakes out to roughly $109,000 per coin, suggesting either impeccable timing or reckless FOMO (take your pick, Wall Street).
Funny how these ’risky digital assets’ keep attracting eight-figure checks while banks still charge $35 for overdrafts.
The Blockchain Group confirms the acquisition of 624 BTC for ~€60.2 million, the holding of a total 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 — The Blockchain Group (@_ALTBG) June 3, 2025
The BTC was acquired through Banque Delubac & Cie and Swissquote Bank Europe, with both institutions relying on Swiss firm Taurus to manage secure custody.
Blockchain Group’s Bitcoin Strategy Accelerates After Initial Small-Scale Entries
The announcement comes just weeks after the firm shared plans to expand its crypto treasury. Since then, it has made several key purchases. These include 227 BTC on May 22 and 580 BTC on March 26. Earlier, the group made smaller acquisitions in November and December 2024.
The Bitcoin investment strategy began modestly. In Nov. 2024, the firm bought 15 BTC for $1.08m. The following month, it added 25 BTC. With each round of buying, the group’s average cost basis has steadily increased. This trend reflects a calculated scaling approach aligned with its long-term treasury vision. The most recent purchase of 624 BTC marks its largest single-day acquisition to date.
According to the company, the value of its Bitcoin reserves has appreciated significantly since acquisition. As of May 31, the group reported an unrealized gain of $47.88m.
Treasury Strategy Tied to Increasing Bitcoin Holdings Per Share
This aggressive treasury approach is supported by the firm’s broader financial strategy. Earlier this year, it completed a $9.8m capital raise to strengthen liquidity and scale up operations. The group said the combined moves help reinforce its long-term commitment to Bitcoin as a Core treasury asset.
Further, it has outlined a long-term aim to increase Bitcoin per share through targeted capital raises and crypto acquisitions.
