Frans company starts buying Bitcoins, stock price explodes

Just like the American company MicroStrategy (now called Strategy), the Japanese company Metaplanet and the Chinese company SOS Ltd, there is now also a French company that buys Bitcoins in ever larger numbers. Their stock price is clearly benefitting from it.

Continent

On every continent, there’s a company that has adopted a very simple business plan: buy as much Bitcoin as possible. In the United States, it’s Michael Saylor’s Strategy, in Japan, it’s MetaPlanet, and in China, it’s cloud-computing company SOS Ltd.

Now, there’s one in France, too. On March 26, French company The Blockchain Group announced that it had made a new acquisition of 580 Bitcoins for a price of around $50 million. According to the announcement, this purchase is part of the company’s growing strategy to capitalize on the holding company’s excess financial capital.

Euronext

The Blockchain Group is listed on the Euronext Paris stock exchange under the ticker ALTBG.

This purchase is not the first for the company. It had already acquired 15 Bitcoins in November 2024 and 25 Bitcoins in December 2024. In total, the company now has 620 Bitcoins, or just over $54 million.

Thanks to these purchases, the company has also seen its share price grow. Ever since the announcement of the first purchase, the share price has risen by around 225%.