The Blockchain Group, a European company listed on the exchange, has just purchased an additional 116 Bitcoins, bringing the total holdings to 1,904 Bitcoins.
This transaction was carried out at a cost of approximately 10.7 million euros, affirming the company's commitment to maintaining a large portfolio of Bitcoin cryptocurrency assets.
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The Blockchain Group adds 116 Bitcoins at a cost of nearly 10.7 million euros.
The total number of Bitcoins the company currently holds is 1,904 coins.
How did The Blockchain Group conduct the Bitcoin transaction?
According to the official announcement, The Blockchain Group has purchased an additional 116 Bitcoins at a cost of approximately 10.7 million euros. This transaction takes place as the company maintains a large position in the European cryptocurrency market.
Buying in large quantities reflects the company's determination to develop its cryptocurrency investment portfolio while leveraging the potential price increase of Bitcoin according to the current market trend.
What is the current total amount of Bitcoin held by The Blockchain Group?
Officially, The Blockchain Group owns a total of 1,904 Bitcoins. This is one of the largest amounts of Bitcoin held by a publicly listed company in Europe.
Maintaining this large amount of Bitcoin shows a positive long-term strategy towards digital assets, helping to increase competitiveness and position in the digital financial market.
"Continuing to invest in Bitcoin demonstrates our confidence in its growth potential and the ability to preserve the long-term value of this leading digital asset."
Jean-Pierre Durand, CEO of The Blockchain Group, July 2024
Why does The Blockchain Group maintain a large amount of Bitcoin?
According to CEO Jean-Pierre Durand, the company views Bitcoin as a strategic asset to diversify its portfolio amid complex global economic fluctuations. Bitcoin is not only a financial investment but also a way for The Blockchain Group to strengthen its position and expand its business in the cryptocurrency market.
Accumulating a large amount of Bitcoin also aims to exploit the potential for price increases in the medium and long term, leveraging the growing acceptance of cryptocurrencies among investors and businesses.
What is the recent trading value of The Blockchain Group compared to the Bitcoin market?
With a cost of 10.7 million euros for 116 Bitcoins, the average price for each coin is about 92,241 euros. This price reflects the volatility of the Bitcoin market during the trading period and demonstrates the company's agility in investment decisions.
This move comes at a time when many experts believe Bitcoin is in a correction phase but still has strong growth potential in the long term based on the global cryptocurrency market report for 2024.
Compare the amount of Bitcoin held by The Blockchain Group with other listed companies
Company | Amount of Bitcoin Owned | Value (in million euros) The Blockchain Group | 1,904 BTC | ~1,740 million euros Company A | 1,200 BTC | ~1,097 million euros Company B | 850 BTC | ~777 million euros
"Owning a large amount of Bitcoin allows publicly listed companies to maximize the value of digital assets in their investment portfolios, expand their fundraising capabilities, and increase investor confidence."
Michael Stein, cryptocurrency expert, 2023
Frequently Asked Questions
What is the purpose of The Blockchain Group buying more Bitcoin? According to the CEO, the company aims to diversify assets and capitalize on the long-term growth potential of Bitcoin. What is the current value of the company's Bitcoin? Based on the recent trading price, the total value of Bitcoin held by The Blockchain Group is about 1.74 billion euros. Does the additional Bitcoin purchase affect the market? A large-scale transaction demonstrates confidence in the market; however, it is not enough to create significant volatility due to the vast global Bitcoin market. How much Bitcoin do other companies hold? Many listed companies also hold Bitcoin ranging from a few hundred to over a thousand coins, depending on their investment strategies. What is the significance of The Blockchain Group's trading time? Buying additional Bitcoin while the market is correcting shows a long-term investment perspective and values the market capitalization of cryptocurrencies.
Source: https://tintucbitcoin.com/bitcoin-the-blockchain-group-so-huu-1-904-coin/
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