- Bitcoin is currently trading above $109,000.
- Blockchain Groupy’s stock, trading under the ticker ALTBG on Euronext Paris, has surged more than 225% since November when it began accumulating Bitcoin.
- More governments around the world are embracing cryptocurrency.
The Blockchain Group, a Paris-based crypto investment company, that supports and develops Data Intelligence, Artificial Intelligence, and decentralized technology activities of companies and aims for the accumulation and perpetual holding of Bitcoin.
They are set to expand its digital asset treasury further by purchasing an additional 590 Bitcoin.
The purchase follows a €63.3 million ($72 million) bond sale; of which 95% of the funds would be allocated for Bitcoin purchase.
Bitcoin is currently trading above $109,000, meaning the company would acquire around 658 BTC with the full proceeds.
If completed as planned, the new purchase would bring its total Bitcoin reserves to 1,437 BTC.
Meanwhile, Blockchain Group’s stock, trading under the ticker ALTBG on Euronext Paris, has surged more than 225% since November when it began accumulating Bitcoin.
Year-to-date, the stock is up over 765%.
According to the Blockchain Group website, they aim to “increase the number of Bitcoins per share over time by leveraging the holding company’s excess cash and appropriate financing instruments.”
