TL;DR
- The Blockchain Group (ALTBG) has expanded its bitcoin holdings to 1,788 BTC, now valued at €161.3 million.
- Strategic share subscriptions from Adam Back and TOBAM have increased its capital base and BTC reserves.
- The firm reports a BTC yield of 1,270.7% in 2025, outperforming most digital asset treasuries in Europe.
France’s First Bitcoin Treasury Deepens Its Holdings
The Blockchain Group (ALTBG) has announced a set of major capital and treasury updates, including fresh BTC acquisitions and high-profile shareholder support. The Paris-based firm, regarded as Europe’s first publicly listed bitcoin treasury company, has increased its bitcoin reserves to 1,788 BTC, worth approximately €161.3 million ($189 million).
This latest purchase includes the acquisition of 60 BTC at an average price of €90,213 per coin (approx. $105,000), bringing their 2025 bitcoin yield to 1,270.7%, according to internal disclosures.
Strategic Subscriptions Boost Capital Structure
Two prominent players led recent share subscriptions:
- Adam Back, CEO of Blockstream, acquired over 2.1 million shares for around €1.16 million, further aligning himself with ALTBG’s treasury-centric model.
- TOBAM, a regulated French asset manager, subscribed to 262,605 new shares for €143,000, funding the purchase of 13 BTC.
In addition to direct subscriptions, the company executed its BSA 2025-01 warrants, issuing over 1.1 million shares and raising €600,000, which supported the acquisition of an additional 6 BTC.
ATM-Style Capital Raise Funds BTC Accumulation
ALTBG also completed an “ATM-type” capital increase—a flexible share issuance mechanism common among listed U.S. companies—raising €4.1 million from TOBAM. These funds were allocated to purchase 41 BTC, further reinforcing the firm’s treasury reserves.
Combined, these initiatives not only increased bitcoin holdings but also diversified the capital base, inviting institutional partners who share a long-term view of bitcoin as a corporate reserve asset.
Reinforcing a Treasury-First Corporate Model
ALTBG’s strategy reflects a broader institutional shift toward bitcoin-denominated balance sheets. By aggressively acquiring BTC and financing purchases through equity channels, the firm mirrors treasury plays by U.S.-based companies like MicroStrategy while becoming a leader in European corporate crypto adoption.
With bitcoin maintaining levels above $107,000, ALTBG’s early positioning and aggressive accumulation have paid off. Their reported BTC yield of over 1,270% in 2025 positions the firm among the top-performing corporate treasuries globally.
The Data
| Key Metric | Value |
| Total Bitcoin Holdings | 1,788 BTC (The Blockchain Group) |
| Total Valuation of BTC Holdings | €161.3 million (~$189 million) (CoinDesk) |
| BTC Yield YTD | 1,270.7% (ALTBG Investor Relations) |
| Adam Back Share Subscription | 2.1 million shares for €1.16 million |
| TOBAM Share Subscription | 262,605 shares for €143,000 |
| Funds from Warrant Execution | €600,000 used to buy 6 BTC |
| ATM Capital Raise (TOBAM) | €4.1 million used to acquire 41 BTC |
Outlook: BTC as a Balance Sheet Priority
The Blockchain Group’s strategy reinforces a growing belief in bitcoin as a resilient treasury asset amidst macroeconomic instability. Its diversified capital approach and institutional support create a model that other European firms may soon emulate.
With continued high-profile subscriptions and careful treasury management, ALTBG appears well-positioned to lead Europe’s corporate bitcoin movement into the second half of 2025 and beyond.
