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The Blockchain Group, a France-based blockchain solutions firm, recently announced its largest Bitcoin (BTC) purchase to date, acquiring 580 BTC. This marks the company’s third BTC acquisition since it began buying the digital asset in November 2024.

The Blockchain Group Buys 580 Bitcoin

In its most significant BTC acquisition so far, The Blockchain Group has purchased 580 BTC for approximately $50.64 million at an average price of $88,020 per coin. According to the announcement, the purchase was made through its Luxembourg-based subsidiary.

Notably, the acquisition was financed through proceeds raised from a convertible bond issuance announced on March 6. The move aligns with the firm’s Bitcoin Treasury strategy.

To recall, The Blockchain Group made its first BTC purchase in November 2024, acquiring 15 BTC at an average cost of $68,785 per coin. Its second purchase followed in December 2024, when it bought 25 BTC at an average price of roughly $97,692.

Following its latest acquisition, the company’s total BTC holdings now stand at 620 BTC, with a total net asset value of slightly over $54 million at current market prices.

According to data from Yahoo! Finance, The Blockchain Group’s stock (ALTBG.PA) closed today’s trading session at €0.4975 ($0.54), up 3.09% on the day. On a year-to-date basis, the company’s shares have surged by an impressive 65.78%, suggesting that its exposure to BTC has positively impacted its valuation.

The Blockchain Group’s official website states that its pivot to Bitcoin is part of a broader strategy to optimize the use of its excess cash and financial instruments. Since its first BTC acquisition, the company’s stock has risen by 225%.

Corporate BTC Adoption To Grow In 2025

Corporate adoption of Bitcoin is expected to pick up even further in 2025, driven not only by the digital asset’s intrinsic value but also by a favorable regulatory environment under pro-crypto US President Donald Trump’s administration.

Earlier this week, the largest corporate holder of Bitcoin, Strategy, acquired an additional 6,911 coins, pushing its total holdings beyond 500,000 BTC. In the same vein, US-based financial services firm Fold Holdings announced the addition of 475 BTC to its corporate treasury earlier this month.

As corporate adoption grows, several US states have also begun legislative processes to add BTC to their treasuries. For instance, Utah and Kentucky have recently made significant strides with their BTC reserve bills.

Additionally, Mexican billionaire Ricardo Salinas recently revealed that close to 70% of his investment portfolio is allocated to Bitcoin and related assets. At press time, BTC trades at $86,838, down 1.1% in the last 24 hours.

Featured Image from Unsplash.com, charts from Yahoo! Finance and TradingView.com

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Bitcoin (BTC) has shown signs of a relief rally this week, offering a glimmer of hope to investors after the recent market downturn.

Despite this brief uptick, analysts are warning that the upward momentum may not last long.

Will Bitcoin’s Rally Last?

According to data from BeInCrypto, Bitcoin’s price has recovered by 2.0% over the past week. The gains have more than doubled over the fortnight, with the coin appreciating by 5.0%. At the time of writing, the largest cryptocurrency traded at $87,381, representing a slight 0.1% dip over the past day.

Spot Bitcoin exchange-traded funds (ETFs) have also seen inflows for nine consecutive days, according to data from SoSo Value. Since last Friday, the ETFs have collectively attracted $944 million in inflows.

This sustained interest suggests growing confidence among institutional investors. Yet, analysts are unconvinced of the rally’s potential.

In its latest Cryptocurrency Compass newsletter, research firm Fairlead Strategies predicted that Bitcoin’s relief rally could persist for another one to two weeks. However, founder Katie Stockton warned that a price drop may follow.

“Intermediate-term momentum is to downside, and the weekly stochastics are not yet oversold, increasing risk that the rebound is fleeting. We expect the same for most risk assets,” she wrote.

Despite the bearish outlook, Stockton acknowledged short-term positives. Bitcoin’s near-term momentum has improved, and the price still has room to rise before hitting overbought territory. Nonetheless, she cautioned that this window may close by month’s end. 

This could potentially trigger a phase of consolidation—or “digestion.” This means that Bitcoin’s upward momentum might slow down or pause for a longer period as the market adjusts and absorbs the recent gains.

Another analyst also shared a cautious outlook. In a recent post on X (formerly Twitter), Koroush AK estimated Bitcoin’s potential price movements using a liquidation heatmap.

He noted that there’s significant selling pressure around $89,000 (major supply) and buying interest around $85,000 (demand).

“The idea of a HTF dead cat bounce is still valid if price reverts at the highs around the ≈$90K key zone,” he wrote.

For context, a “dead cat bounce” refers to a temporary recovery or brief upward movement in the price of an asset after a prolonged downtrend. This is followed by a continuation of the downtrend. However, he added that the bearish scenario would be nullified if Bitcoin manages to break past the resistance level.

Meanwhile, changing macroeconomic conditions are also a growing concern, particularly with US President Donald Trump’s tariff announcements scheduled for April 2. In their recent report, K33 Research stressed that although markets are currently stable, the upcoming tariff decisions could trigger considerable volatility in the market.

“Tariffs remain the primary producer of market-moving headlines, rendering most traders risk-averse as we approach a big day of tariff announcements on April 2,” the report read.

The report further advised caution and recommended avoiding leverage due to the anticipated tariff-induced volatility.

Recently, BeInCrypto also explored how Trump’s tariff plans might impact crypto markets. High tariffs could pressure risk assets like Bitcoin, potentially mirroring the market’s reaction in February. Conversely, if tariffs are delayed or applied selectively, investor fears may ease. This, in turn, could lead to a potential recovery in crypto prices. 

GameStop announced today that it’s offering $1.3 billion worth of stock to fund Bitcoin acquisitions, which prompted a 12% gain in its stock.

GameStop’s plan has caused an impressive price rally, but it is still risky. With this move, it plans to incur more debt than its total net sales in Q4 2024.

GameStop To Buy Bitcoin With Stock Offering

GameStop, an American electronics retailer that has dabbled in Web3, is preparing to substantially re-enter the crypto space. Yesterday, the firm announced that it would begin using Bitcoin as a treasury asset, boosting its stock price.

Today, GameStop detailed via press release how it plans to fund these Bitcoin acquisitions.

“GameStop today announced that it intends to offer… $1.3 billion aggregate principal amount of 0.00% Convertible Senior Notes… to persons reasonably believed to be qualified institutional buyers. GameStop expects to use the net proceeds from the offering for general corporate purposes, including the acquisition of Bitcoin,” it claimed.

The first rumors about GameStop’s pivot to Bitcoin circulated when its CEO, Ryan Cohen, met with Michael Saylor. Under Saylor, MicroStrategy became one of the world’s largest Bitcoin holders.

Recently, he’s been funding these acquisitions through massive stock sales, and GameStop is apparently replicating the strategy.

Meanwhile, GameStop’s stock price has experienced positive momentum since the announcement. It increased nearly 20% throughout the week and almost 12% today.

By pursuing the Bitcoin strategy, GameStop is opening itself up to lucrative new opportunities and potential new risks. Since Saylor pioneered this plan, MicroStrategy has taken on enormous debts through its stock sales and is practically unable to sell its Bitcoin.

However, its MSTR stock price also ballooned wildly at a time when its core business model was becoming unviable. GameStop will hope for similar stock market results after its Bitcoin accumulation.

Nonetheless, the company is still planning to incur more debt than its total net sales in Q4 2024. The firm’s retail activities remain a multibillion-dollar enterprise, but it’s planning a risky move. Hopefully, it’ll pay off without much difficulty.