A French-listed tech company, The Blockchain Group, is making bold moves to position itself as a major player in the Bitcoin space. With a vision to accumulate Bitcoin on a massive scale, the firm has laid out an aggressive growth plan that involves raising substantial capital to fund its acquisitions.
In June 2025, the company held a general and special meeting during which shareholders approved a proposal to increase its financing capacity by over €100 billion. This capital will be directed toward executing its “Bitcoin treasury” strategy, which aims to increase the amount of Bitcoin per share on a fully diluted basis.
What Is the Bitcoin Treasury Strategy?
The core idea behind the strategy is to use corporate financing to systematically purchase and hold Bitcoin. The company treats Bitcoin not as a speculative instrument, but as a long-term store of value and a hedge against currency devaluation. The approach is built on two main principles:
- Raising capital through equity offerings issued at a premium to the market price, which the company claims benefits existing shareholders.
- Measuring corporate performance based on Bitcoin accumulation rather than traditional fiat currencies like the euro or US dollar.
This mirrors strategies adopted by other corporate Bitcoin holders, though The Blockchain Group is among the first in Europe to adopt it at this scale.
Major Financing Approval and Leadership
During the shareholder meeting, the company also approved the appointment of Alexandre Laizet as a director. Laizet, who serves as deputy CEO, will lead the Bitcoin strategy initiative. His background includes consulting for major French corporations and financial institutions, and he has focused exclusively on Bitcoin for the past five years.
The financing mechanisms approved include the issuance of ordinary shares, preferred shares, warrants, and convertible bonds. This allows the company to tailor fundraising efforts based on market conditions and cost of capital.
Earlier in June, the firm established a €300 million at-the-market (ATM) issuance program in partnership with asset manager TOBAM. This arrangement permits the gradual sale of new shares, with TOBAM committed to purchasing them. If fully utilized, TOBAM could acquire up to 39% of the company’s shares.
Management has stated that proceeds from these financing activities will be used primarily to buy more Bitcoin.
From Services to Bitcoin Focus
The Blockchain Group was not always a Bitcoin-centric company. Until late 2023, it operated as a diversified blockchain technology firm involved in media, consulting, and software development.
In December 2023, a new board of directors was appointed, leading to a strategic shift. Non-core subsidiaries were sold or liquidated, and the company refocused around two profitable units: Iorga, which offers customized website and blockchain solutions, and Trimane, a data intelligence and AI consultancy.
By November 2024, the firm officially rebranded itself as a Bitcoin treasury company, marking a new phase dedicated to Bitcoin accumulation.
Bitcoin Purchases and Performance
The company began actively buying Bitcoin in late 2024. Key acquisitions include:
- November 2024: Raised €1 million through a share issuance at a 70% premium, acquiring 15 BTC.
- December 2024: Raised €2.5 million with participation from well-known Bitcoin advocates, acquiring 25 BTC.
- March 2025: Issued convertible bonds denominated in Bitcoin with a face value of €48.6 million, acquiring 580 BTC.
As of June 2025, the company holds 1,471 BTC, worth approximately $160 million, with an average acquisition price of around $102,507 per Bitcoin. At current prices, the holdings show an unrealized gain of about 5.21%.
Since adopting the new strategy, the company’s stock price has increased significantly, rising 474% within a short period.
Long-Term Vision and Investor Backing
The firm has set highly ambitious targets for the coming years:
- By 2029: Hold between 21,000 and 42,000 BTC.
- By 2033: Accumulate 170,000 to 260,000 BTC, representing approximately 1% of Bitcoin’s total fixed supply.
To support this growth, the company plans to raise over €100 billion in capital by the early 2030s. If Bitcoin reaches €1-2 million per coin, as some predict, the value of its holdings could reach €210–420 billion, potentially making it one of Europe’s most valuable public companies.
The strategy has attracted support from notable figures in the crypto industry, including Adam Back, CEO of Blockstream and an early contributor to Bitcoin’s development. Institutions such as Fulgur Ventures, UTXO Management, and TOBAM are also shareholders.
Perspectives on Bitcoin Adoption
Alexandre Laizet believes that corporate and national adoption of Bitcoin is accelerating. In recent interviews, he highlighted that 2025 may be the year traditional banks begin entering the Bitcoin market at scale.
He pointed to BBVA, Spain’s second-largest bank, which has already received regulatory approval to offer Bitcoin and Ethereum trading and custody services. Other European banks, including Société Générale and Crédit Agricole, are also preparing similar offerings.
Laizet argues that when Bitcoin adoption reaches 15–20% globally, it will trigger a tipping point into mainstream acceptance. He refers to this as Bitcoin’s “iPhone moment”—a fundamental shift in how value is stored and transferred.
He also emphasized that companies should consider allocating more than a nominal percentage of their treasury to Bitcoin, criticizing the typical approach of only dedicating 1–2% as a hedge.
How Companies Can Participate in the Bitcoin Economy
For businesses interested in holding Bitcoin, Laizet recommends using regulated institutional service providers for purchases and custody. The Blockchain Group itself executes trades through Delubac & Cie in France and Swissquote in Luxembourg.
He advises that corporations should think beyond small allocations and consider strategies that increase Bitcoin per share, especially through premium-financed share offerings.
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Frequently Asked Questions
What is a Bitcoin treasury company?
A Bitcoin treasury company is a firm that holds significant amounts of Bitcoin as part of its corporate reserves. The goal is to preserve value, hedge against inflation, and potentially increase shareholder value through Bitcoin’s appreciation.
How does The Blockchain Group finance its Bitcoin purchases?
The company raises capital through equity offerings, often issued at a premium to the current share price. It also uses instruments like convertible bonds and ATM programs to fund Bitcoin acquisitions.
Is this strategy risky?
Like any strategy centered around a volatile asset, there are risks involved. Bitcoin’s price fluctuations can significantly impact the value of corporate holdings. However, proponents argue that its long-term value proposition justifies the approach.
Are other European companies adopting similar strategies?
While several are exploring Bitcoin treasury options, The Blockchain Group is among the most aggressive in Europe. Other firms may follow as institutional adoption grows.
What is the role of regulators in corporate Bitcoin adoption?
Regulatory clarity is improving in many jurisdictions, making it easier for companies to hold Bitcoin. European banks are already receiving approvals for crypto services, signaling wider acceptance.
How can investors participate?
Investors can buy shares of companies that hold Bitcoin, trade Bitcoin directly, or use regulated platforms to gain exposure. It’s important to conduct thorough research and understand the risks involved.
This article is for informational purposes only and does not constitute investment advice. The content reflects public information and does not endorse any specific company or financial strategy.