- Blockchain Group now holds 1,471 BTC worth $ 154 M.
- Institutional BTC adoption is growing across Europe.
- Bitcoin is seen as a long-term treasury asset globally.
Paris-based Blockchain Group has purchased $68.7 million worth of Bitcoin, bringing its total holdings to 1,471 BTC. The acquisition reflects the growing interest among European institutions in adopting crypto as a strategic treasury asset.
The firm’s recent purchase of 624 BTC was made for €60.2 million ($68.7 million). Announced via the company’s official X account on June 3, this move positions Blockchain Group as one of the largest Bitcoin corporate holders in Europe. Its Bitcoin holdings are now worth over $154 million.
This significant accumulation comes amid continued institutional momentum since the U.S. approved spot Bitcoin ETFs in January 2024. These ETFs opened doors for traditional investors to legally and securely gain exposure to Bitcoin through regulated investment vehicles.
Europe Joins the Bitcoin Treasury Trend
While U.S. firms like MicroStrategy have led the Bitcoin treasury movement globally, European companies have been slower to follow. However, Blockchain Group is now leading the charge within the region.
“With a year-to-date return of over 1,097.6%, our Bitcoin strategy has validated itself,” Blockchain Group noted in its announcement. The company claims to be Europe’s first dedicated Bitcoin treasury firm.
BNP Paribas, VanEck Europe, Bitpanda, and Switzerland-based 21Shares AG are among few other European players slowly exploring similar strategies. Furthermore, the Czech National Bank’s consideration of Bitcoin for diversification of its foreign exchange reserves is yet another indicator of growing institutional interest.
The strategic timing of Blockchain Group’s acquisition coincides with broader political support for Bitcoin. On March 7, U.S. President Donald Trump signed an executive order to establish a national Bitcoin reserve using crypto assets seized from criminal investigations, further legitimizing state-level interest in Bitcoin reserves.
Bitcoin Demand From Institutions Strengthens
According to Ryan Lee, chief analyst at Bitget Research, Bitcoin is likely to consolidate between $103,000 and $108,000 after hitting an all-time high of $112,000 on May 22. He noted that continued on-chain whale accumulation shows bullish sentiment, suggesting that any market correction may offer prime buying opportunities.
Global corporate interest continues to intensify. MicroStrategy, renamed “Strategy”, remains the world’s largest Bitcoin-holding firm with $60.5 billion in BTC. It recently bought another $75 million in Bitcoin and announced a $250 million IPO of perpetual preferred stock to finance further acquisitions.
Asian firm Metaplanet also joined the race with a $118 million purchase, making it the eighth-largest corporate holder globally.
Blockchain Group’s move aligns with this trend, signaling that Bitcoin is increasingly viewed not just as an investment but as a strategic asset for long-term treasury planning.
Highlighted Crypto News Today:
Transparency in Question as Texas Lawmaker Delays Crypto Disclosure
