Blockchain Giant Bets Big: $68M Bitcoin Buy Sends Shockwaves Through Markets
Wall Street scrambles as institutional crypto appetite returns—with a vengeance.
The move: A blockchain-focused firm just dropped $68 million on Bitcoin in a single swoop, triggering immediate price action across both crypto and traditional markets. Their stock? Already reacting before the ink dried on the transaction.
Why it matters: When whales make waves this big, even skeptical traders grab their life jackets. This isn’t your 2021 meme-stock frenzy—it’s cold, hard corporate conviction in digital gold (though let’s be real, some hedge fund manager probably just needed to justify their yacht payments).
The bottom line: The crypto winter thaw continues, but remember—institutional moves like this cut both ways. Today’s strategic allocation could be tomorrow’s tax-loss harvest.
Blockchain Group Buys 624 BTC Worth $68M
According to a press release on June 3, Paris, France-based Blockchain Group purchased 624 BTC for EUR 60.2 million ($68.7 million). Euronext Growth Paris-listed company has followed the path of Strategy (formerly MicroStrategy) by issuing corporate bonds to raise capital for Bitcoin buy.
🟠 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
Moreover, Blockchain Group’s total holdings increased to 1,471 BTC worth nearly USD $106 million at the current Bitcoin price. The company has also revealed that it has achieved a remarkable BTC Yield of 1,097.6% year-to-date with its Bitcoin acquisition strategy.
“The private placement announced on May 20, 2025, for a total definitive amount of ~€8.6 million, enabling the acquisition of 80 BTC for ~€7.7 million,” stated the company. “As well as the definitive completion of the convertible bond issuance announced on May 26, 2025, for a total amount of ~€55.3 million, subscribed by Fulgur Ventures, allowing the acquisition of 544 BTC for ~€52.5 million.”
Blockchain Group ALTBG stock price jumped 8% in premarket hours on Tuesday, but fell 0.34% as market opened. ALTBG stock has rallied more than 168% in a month and over 873% year-to-date as the firm adopts a Bitcoin acquisition strategy.
