In the United States, strategy proved the Bitcoin Treasury model. In Asia, the metaplanet took the baton ran with it. Now in Europe, a new name is emerging as a leader in balance -transformation –Blockchain Group (Altbg).
The Blokchain group is listed on Euronext Growth Paris and has delivered one of the most notable performances among all public Bitcoin companies since they adopted their treasury strategy. In just six months it has sent one 709.8% BTC yieldFar transcending Bitcoin’s award performance and demonstrating how balance technology – when performed through the Bitcoin lens – can operate exponential shareholder value.
This is not a story of riding Bitcoin’s price action. It’s all about Manufacture of Bitcoin per Stock through disciplined capital strategy.
A strategic reset – and a bold effort on Bitcoin
The Blockchain group was not always a Bitcoin-First Company. In fact, until the end of 2023, it was a diversified tech holding company with interests across media, counseling and software services. But the results were mixed and profitability remained evasive.
Everything changed in December 2023. A new board was installed. Older subsidiaries were spun off or liquidated. A slimmer, more focused unit appeared, rooted by two profitable operating companies –Iorga (custom web and blockchain solutions) and Trimane (Data Intelligence and AI Consulting). But the most important shift was not operational – it was philosophical.
In November 2024, TBG was Europe’s first Bitcoin Treasury CompanyOfficial adoption of a long -term strategy to accumulate Bitcoin, optimize BTC per Stock and treat Bitcoin not as a speculative asset but as Core Operating Capital In a digital barely economy.
From restructuring to refining
What followed was a masterclass in capital efficiency. TBG didn’t just buy Bitcoin-It refined his balance to a Satoshi Generation Motor:
- € 1 million Equity Raise (Nov 2024) At a premium of 70% allowed purchases of ~ 15 BTC.
- € 2.5 million Equity Raise (DEC 2024) With Adam back and Tobam, another ~ 25 BTC brought in.
- € 48.6 million activated the acquisition of 580 BTC – that monitors the company to 620 BTC held.
- The total appreciation of the share price in the same period: +474%
These were not random capital injections. They were Highly targeted improvementsDesigned to maximize the amount of acquired Bitcoin created per
In the 1st quarter of 2025, fully diluted shares increased by 100%, but BTC Holdings grew by 1,450%. BTC/SHARE rose from 41 to 332 rate – a 709.8% BTC yield.
In this model, Dilution is not a threat – it’s a tool. The question is not “How much are you traveling?” – That’s “How many SATs per share do you generate?”
A capital refinery in motion
TBG’s increase is not an accident -it is the product of a deliberate, multi -instrument capital strategy modeled according to the strategy’s “Bitcoin Refinery” playbacks:
- Equity locations Was executed on prizes on the market and avoid value leakage.
- Bitcoin-denominated convertible bonds Adjusted obligations with exposure to active, minimization of credit risk.
- Shareholder warrants were introduced to give all investors access to upwards.
- 300 million € in capital collection of permission was approved to finance future BTC acquisitions.
These tools allow TBG to buy capital from multiple channels while retaining a goal: Maximize BTC per Stock over time. The more instruments available, the more agility it has by optimizing capital streams – without ever having to sell Bitcoin.
Each financing event is a conversion: Capital I, sat out. It is the refinery at work.
Global support, local execution
If the strategy seems bold, investors who support it suggest confidence.
- Adam backCEO of Blockstream and quoted in the Bitcoin Hvidebook, participated directly in TBG’s December increase.
- Fulgur VenturesAt UTXO managementand Tobam Has joined the CAP table and provided global legitimacy and deep Bitcoin-nine insight.
- Especially Tobam Author a broadly shared mathematical paper modeling, how btc treasury companies can Outperform Bitcoin itself When the BTC yield is maximized.
This adaptation between operational execution and long-term capital partners provides TBG with a strong foundation for expanding beyond France and deep credibility among institutions that look at Bitcoin-native capital strategies.
TBG sketches their 8-year timetable
The roadmap ahead is even more ambitious.
- By 2029TBG aims to hold 21,000–42,000 BTC.
- By 2033This target is growing to 170,000–260,000 BTC– Just below 1% of Bitcoin’s regular supply.
- All without selling a single satoshi.
To finance this growth, the company plans to expand its capital collection capacity from 300 million € this year to over € 100b In the early 2030s. If Bitcoin reaches 1-2 million € 210–420 billion NAV—Poping it to stay Europe’s most valuable public company.
These are not moonshot projections. They are mathematical extrapolations based on a capital model that already proves itself.
Why it matters
TBG’s success not only validates the Bitcoin Treasury model – it globalizes it. No longer restricted to US stocks or Asia’s border playing, Bitcoin-native Treasury Strategy is now anchored at European Capital Markets.
This sends a strong message to European CFOs and Capital Allocators:
Bitcoin is not a speculative hedge. It’s a Superior Capital Foundation.
And for companies that are willing to measure success in BTC/SHARE – not just earned euro – the OPTAGE is exponential.
TBG doesn’t just hold Bitcoin. It optimizes for it. And by doing it, it is reshaped how shareholder value can look like in a world of limited money.
Disclaimer: This content was written on behalf of Bitcoin for businesses. This article is intended solely for information purposes and should not be interpreted as an invitation or request to acquire, buy or subscribe to securities. For full transparency, note that Utxo Management, a subsidiary of BTC Inc., has a share in the Blockchain group.