Blockchain Group buys $68 million Bitcoin, boosting corporate BTC adoption in EU
Blockchain Group has acquired 624 Bitcoin for $68 million, increasing its total holdings to 1,471 Bitcoin, valued at over $154 million. This acquisition reflects a growing trend among European institutions investing in Bitcoin, particularly following the US approval of spot Bitcoin exchange-traded funds in January 2024. Notable European companies exploring Bitcoin treasury strategies include BNP Paribas, 21Shares AG, VanEck Europe, Jacobi Asset Management, and Bitpanda. The Czech National Bank is also considering Bitcoin for its foreign exchange reserves. Market analysts predict Bitcoin will consolidate between $103,000 and $108,000 after reaching an all-time high of $112,000. Whale accumulation signals bullish trends, suggesting corrections may present buying opportunities. Strategy, the largest corporate Bitcoin holder, has purchased $75 million in Bitcoin recently and plans to raise $250 million for future acquisitions. Metaplanet has become the eighth-largest Bitcoin holder following a $118 million investment.
