The Blockchain Group’s latest purchase adds over $50 billion to its Bitcoin holdings as its stock continues to soar since its first BTC buy around Trump’s election win.
France-based The Blockchain Group has added another 580 Bitcoin to its Bitcoin treasury, following a 225% surge in its stock price since it began hoarding Bitcoin in November.
This is the largest of the three Bitcoin purchases made by the organization, per a March 26 after-hours statement. At the time of publication, 580 Bitcoin is worth $50.64 million, with Bitcoin’s (BTC) price trading at $87,311, according to CoinMarketCap data.
The Blockchain Group’s first two Bitcoin purchases happened around significant milestones for the Bitcoin industry. It bought 15 BTC on Nov. 5, the same day Donald Trump won the United States presidential election and before Bitcoin went on a month-long rally that saw it reach $100,000 for the first time in December.
