The Blockchain Group has made its largest cryptocurrency purchase to date, acquiring 580 Bitcoin (BTC). This acquisition is the third Bitcoin purchase by the France-based tech consulting company since it began accumulating the digital currency in November 2024 as reported by BTC Peers.

The latest purchase far exceeds the company's previous acquisitions of 15 BTC and 25 BTC. According to a press release issued Wednesday, the company sees this as a significant step forward in its Bitcoin treasury strategy, which aims to boost Bitcoin holdings per share.

The purchase was completed through the company's subsidiary, The Blockchain Group Luxembourg SA. Each Bitcoin was bought at about €81,550 ($87,874). The company used proceeds from a convertible bond issuance announced on March 6 to fund this purchase.

The French tech firm's expansion comes as France works to build its global presence in multiple sectors. Recently, French Foreign Minister Jean-Noël Barrot signed a maritime security agreement with Indonesia at ASEAN headquarters in Jakarta, focused on securing ports in Jakarta and Surabaya against threats like piracy and terrorism.

With this addition, The Blockchain Group now holds a total of 620 BTC, worth more than $54.2 million at current market prices. This makes the company the 28th largest corporate Bitcoin holder worldwide.

MicroStrategy, the leader in corporate Bitcoin holdings, recently passed the 500,000 BTC mark with its March 23 purchase of 6,911 Bitcoin for $584 million. The company now holds 506,137 BTC bought at an average price of $66,608 per Bitcoin, with total investment nearing $33.7 billion.

The Blockchain Group's stock has performed well since launching its Bitcoin strategy last November. Euronext data shows the stock price has risen by more than 220% since November 5, 2024. On Wednesday, shares closed 3.54% higher.

Alexandre Laizet, CEO of The Blockchain Group, credits the company's strong stock performance to its focus on Bitcoin accumulation. In a March 20 post on X, Laizet noted the company is following examples set by:

• Strategy's Michael Saylor
• Japan's Metaplanet

The trend of corporate Bitcoin acquisition appears to be growing, with video game retailer GameStop announcing yesterday a proposed private offering of $1.3 billion in convertible senior notes to start its own Bitcoin acquisition plan.