The Blockchain Group adds 580 BTC as stock jumps 226% since Bitcoin ( $64,292.00 ) pivot

France-based The Blockchain Group has added another 580 Bitcoin ( $64,292.00 ) to its Bitcoin ( $64,292.00 ) treasury, following a 225% surge in its stock price since it began hoarding Bitcoin ( $64,292.00 ) in November.

This is the largest of the three Bitcoin ( $64,292.00 ) purchases made by the organization, per a March 26 after-hours statement. At the time of publication, 580 Bitcoin ( $64,292.00 ) is worth $50.64 million, with Bitcoin ( $64,292.00 ) ’s (BTC) price trading at $87,311, according to CoinMarketCap data.

First purchases at pivotal Bitcoin ( $64,292.00 ) moments

The Blockchain Group’s first two Bitcoin ( $64,292.00 ) purchases happened around significant milestones for the Bitcoin ( $64,292.00 ) industry. It bought 15 BTC on Nov. 5, the same day Donald Trump won the United States presidential election and before Bitcoin ( $64,292.00 ) went on a month-long rally that saw it reach $100,000 for the first time in December.

The second purchase was 25 Bitcoin ( $64,292.00 ) on Dec. 4, when Bitcoin ( $64,292.00 ) was trading at $96,000 during the post-election rally, with anticipation growing about a six-figure price — which happened the next day.

March 26 isn’t a major date for Bitcoin ( $64,292.00 ) , but it’s five days before the end of Q1 2025 — a quarter where Bitcoin ( $64,292.00 ) has underperformed compared to previous years’ first quarters — and it’s also approaching the first anniversary of the Bitcoin ( $64,292.00 ) halving on April 20.

According to The Blockchain Group’s website, the Bitcoin ( $64,292.00 ) strategy was an effort to leverage the holding company’s excess cash and appropriate financing instruments.

The Blockchain Group (ALTBG) is listed on Euronext Paris, Europe’s second-largest stock exchange by market cap.

The firm refers to itself as a “global umbrella” of companies specializing in data intelligence, AI and decentralized technology. Since it began its Bitcoin ( $64,292.00 ) accumulation on Nov. 5, ALTBG has risen 225% to 0.48 euros ($0.52), according to Google Finance data.

The latest Bitcoin ( $64,292.00 ) purchase was announced after the market already closed on March 26.

It comes on the same day that GameStop shares jumped nearly 12% after the company announced plans to purchase Bitcoin ( $64,292.00 ) .

The company plans to finance the purchase through debt financing. After markets closed on March 26, GameStop announced a $1.3 billion convertible notes offering.

Related: Bitcoin ( $64,292.00 ) must break this level to resume bull market as $2.4B in BTC leaves exchanges

N7 Capital founder Anton Chashchin said in a recent statement viewed by Cointelegraph, “It’ll be interesting to observe if other companies take up the baton from GameStop and where this will lead the market.”

Meanwhile, US-based angel investor Jason Calacanis said buying Bitcoin ( $64,292.00 ) was a solution well-suited for public companies that do not have a suitable business model.

Michael Saylor, the original advocate for corporate Bitcoin ( $64,292.00 ) adoption, has led his firm, Strategy, to recently cross the 500,000 Bitcoin ( $64,292.00 ) mark, currently holding 506,137 Bitcoin ( $64,292.00 ) .

Between November and January, Strategy maintained a 12-week consecutive Bitcoin ( $64,292.00 ) buying streak.

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This 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.