Paris-based Blockchain Group has made a major move in the cryptocurrency space by adding $68.7 million worth of Bitcoin to its corporate treasury. This latest purchase includes 624 BTC and brings the company’s total Bitcoin holdings to 1,471 BTC—valued at over $154 million.
The firm, which calls itself Europe’s first Bitcoin treasury company, shared the news on June 3 through a post on social media platform X (formerly Twitter). Blockchain Group says it has seen a year-to-date return of more than 1,000% on its Bitcoin investment, highlighting growing confidence in Bitcoin as a long-term asset for corporate treasuries.
Bitcoin Treasury Strategy Gains Momentum in Europe
Interest in holding Bitcoin as a treasury asset has been growing across Europe, especially since the United States approved spot Bitcoin ETFs in early 2024. These ETFs made it easier for traditional investors and institutions to gain regulated exposure to Bitcoin.
Another major push came in March, when former U.S. President Donald Trump signed an executive order calling for the creation of a Bitcoin reserve using crypto assets seized in criminal cases. This move further legitimized Bitcoin as a financial reserve option for governments and corporations alike.
Also Read:
Despite Bitcoin’s benefits as a treasury asset, only a few European companies have taken steps in this direction. Notable examples include BNP Paribas, 21Shares AG, VanEck Europe, Jacobi Asset Management, and Bitpanda. The Czech National Bank has also shown interest in exploring Bitcoin for foreign exchange diversification.
Market Outlook for Bitcoin Remains Strong
Bitcoin recently reached an all-time high of $112,000 on May 22. Analysts expect the price to settle in a range between $103,000 and $108,000 in the short term. According to Ryan Lee, chief analyst at Bitget Research, large investors—also known as “whales”—are still accumulating Bitcoin, which he says is a bullish signal.
“Any dip in price should be seen as a potential buying opportunity,” Lee said.
Global Corporate Adoption of Bitcoin Gathers Pace
Globally, more companies are adopting Bitcoin as part of their treasury strategy. Strategy (formerly MicroStrategy), led by Bitcoin advocate Michael Saylor, continues to lead the way. The company now holds over $60.5 billion worth of Bitcoin, making it the largest corporate Bitcoin holder in the world.
Between May 26 and 30, Strategy added another $75 million in Bitcoin, buying at an average price of $106,495 per BTC. On June 2, the company also announced plans to raise $250 million through a new stock offering to support future Bitcoin purchases.
In Asia, Metaplanet—sometimes referred to as “Asia’s MicroStrategy”—has also made headlines. The company recently invested $118 million in Bitcoin, making it the eighth-largest corporate holder of BTC worldwide.
The trend of Bitcoin being used as a corporate treasury asset is clearly growing. With both European and global companies making significant investments, Bitcoin is steadily becoming a core part of corporate financial strategies. As regulations become clearer and institutional tools improve, more firms may follow suit and add Bitcoin to their balance sheets.
