French Firm Bets Big on Bitcoin, Sets Long-Term Goal of Owning 1% of Supply

French-listed tech firm Blockchain Group is ramping up its Bitcoin holdings through a €63.3 million ($72 million) convertible bond offering, marking its latest move to position itself as a Bitcoin-heavy holding company.

The firm intends to deploy 95% of the raised capital to acquire an additional 590 BTC, which would lift its total holdings to 1,437 BTC. The remainder of the funds will cover operational expenses and management fees. At current prices, the company could potentially acquire more, but it has capped its purchase to align with internal allocations.

The funding round was led by Fulgur Ventures, which contributed the bulk—€55.3 million—while Moonlight Capital added €5 million. The issued bonds will be convertible into company shares at €3.809.

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Listed on Euronext Paris under ticker ALTBG, Blockchain Group has seen a dramatic stock performance, surging over 766% this year. Since announcing its Bitcoin strategy in late 2023, its share price has skyrocketed from €0.48 to €2.77, despite a recent dip.

The company’s latest earnings reveal a 32% year-over-year revenue decline, but its Bitcoin portfolio has delivered a reported yield of over 700%. Looking ahead, Blockchain Group aims to accumulate 1% of Bitcoin’s total supply—more than 170,000 BTC—by 2032 as part of its long-term treasury strategy.

Alexander Stefanov

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.