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The Blockchain Group has made a significant move in the digital currency market by acquiring 580 additional Bitcoins, taking its total treasury holdings to 620 BTC. This strategic decision is seen as a bold step towards solidifying the company’s stance in the rapidly growing Bitcoin landscape.
As reported, The Blockchain Group’s stock price has surged by an impressive 226% since commencing its Bitcoin accumulation strategy in November last year. This substantial gain can be attributed to the company’s unwavering commitment to holding and accumulating Bitcoins.
Notably, this monumental purchase is part of a larger scheme aimed at maximizing shareholder value over time. The Blockchain Group aims to achieve this by leveraging excess cash flow and capital raises for further Bitcoin acquisitions.
In an exclusive interview with Blockonomi.com, Alexandre Laizet, Deputy CEO and Director of Bitcoin Strategy, emphasized the company’s dedication to its strategy, stating, “The essence of our strategy is simple: accumulate Bitcoin, never sell it, and hold it indefinitely.” This unyielding commitment has garnered significant attention from investors, as evidenced by the 226% increase in stock price.
In a unique move, The Blockchain Group now holds a total of 620 BTC, worth around $54 million at current market prices.
Source: https://blockonomi.com/the-blockchain-group-adds-580-bitcoin-to-treasury-holdings/
