Blockchain Group buys 624 bitcoins for $68.6 million, aiming to join top institutional holders
Blockchain Group has just taken another important step. The company’s listed company received 624 BTC worth $68.6 million on Tuesday.
According to the report, the move raises its total holdings to 1,437 BTC, which is now worth about $150 million. Apparently, the company wants to be called heavyweight when holding Bitcoin on its balance sheet.
Accelerate Bitcoin Purchase
Since the end of 2024, blockchain groups have been buying Bitcoin in stages. Starting in November 2024, starting at 15 BTC for $1.1 million, and then adding 25 btc next month, the company is relaxing.
🟠The blockchain group confirmed that the acquisition of 624 BTC was approximately 60.2 million euros, with a total holding of 1,471 BTC, and a BTC yield of 1,097.6% ytd⚡️1097.6%.
Complete press release (EN): https://t.co/izuebradtz
Complete Press Release (FR): https://t.co/igtddli8hu
BTC Strategy (EN):… pic.twitter.com/0bq9zasrn3– Blockchain Group (@_altbg) June 3, 2025
On March 26, they stepped up by buying 580 BTC. Then, on May 22, another 227 BTC entered their wallet. These stable purchases indicate an increasing appetite for Bitcoin as a core asset.
The latest 624 cryptocurrency purchase is their biggest single traction to date. The organization hopes to make Bitcoin the basis of the treasury, which is a clear sign.
Funds via convertible bonds
Most recent Bitcoin purchases (544 BTC) are funded by $63 million convertible bonds issued to Fulgur Ventures. According to the report, the bond allows blockchain groups to convert debt into stocks if investors choose.
The rest (80 BTC) completed nearly $10 million in funding from late May. This cash is specifically used in cryptocurrencies. Using debt and new capital, the company appears willing to quickly expand its Bitcoin holdings. It also shows that they would rather raise funds than use their existing cash reserves.
Guardianship and partnerships
The blockchain group collaborates with Banque Delubac & Cie and Swissquote Bank Europe to execute BTC purchases. Both agencies work with Swiss company Taurus to handle the security custody of coins.
Image: Nomadic Labs
According to the company, using trusted custodians is key to keeping digital assets safe. With these partnerships, blockchain groups don’t have to worry about managing private keys themselves. This makes them focus on buying more bitcoins instead of dealing with technical security issues.
Stock Risks and Rewards
At current prices, the company’s 1,437 BTC is worth more than $150 million. As of May 31, the group reported unrealized revenue of nearly $48 million. This is a healthy reward for early purchases.
But the price fluctuations in Bitcoin can be sharp. If BTC drops, these paper gains may disappear. Additionally, issuing $63 million convertible bonds means that if the bondholder converts to equity, it may be diluted.
The report revealed that the blockchain group plans to increase its “bitcoin per share” figures with more targeted capital associated with cryptocurrencies.
The biggest bet is that the price of Bitcoin will continue to climb, making these purchases worth it. However, if the market economy is down, investors can see coin value and stock price slip.
Featured images from Unsplash, charts for TradingView
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