The Blockchain Group (EPA: ALTBG) Emerges as a Standout in European Capital Markets, Registering a Stock Price Increase of 554%

Trading at €1.90 as of May 16, 2025, and recently reaching a 52-week high of €1.95, the company now holds a market capitalization of €179.3 million.

European capital markets have seen interesting activity lately, especially with the recent surge in The Blockchain Group (EPA:ALTBG) share price. Over the past six months, the company's stock has soared by 554%, currently trading at €1.90.

Having recently hit a 52-week high of €1.95, the company now holds a market capitalization of €179.3 million. This record surge is attributed mainly to the group's recent shift toward a Bitcoin treasury company, becoming Europe's first.

The company's journey did not only focus on Bitcoin. Before late 2023, the company was mainly a tech-related holding, having experienced several ups and downs in its performance.

However, in December 2023, a significant restructuring was set in motion by the company's board, shifting the company to focus on blockchain technologies, data analysis, and Bitcoin. The company decided to use Bitcoin as its core working capital to reach the maximum BTC per share by November 2024.

As a result of its disciplined capital strategy, the company made targeted investments. In November 2024, it received a million euros in equity funding, 2.5 million euros from Adam Back and TOBAM in December, and a €48.6 million Bitcoin-denominated convertible bond in March 2025.

As a result, Bitcoin holdings surged from 41 to 332 sats per share, delivering a 709.8% BTC yield in just one quarter. Naturally, ALTBG's share price soared in tandem, moving from around €0.29 six months ago to its current levels.

The company's financials show €15 million in trailing twelve-month revenue, a P/E ratio of 131.13, and no dividend yield, reflecting a pure growth focus. The share price volatility is clear, with a 52-week low of €0.082 and a high of €1.95.

ALTBG's strategy is similar to the approaches used by Bitcoin treasuries in the U.S. and Asia. The company mobilizes equity, bonds, and warrants to maximize Bitcoin acquisition per share, using capital raises at market premiums and Bitcoin-denominated debt to align risk.

These moves are not random; Funding events at the company aim to increase Bitcoin per share, treating dilution as a tool for value creation, not a threat. The company has managed to engineer its balance sheet to act as a "Satoshi refinery," attracting more inflows into BTC holdings.

In May 2025, ALTBG received €22 million in investment, €12.1 million of which was a Bitcoin-denominated convertible bond from Adam Back. The company has also revealed an ambitious eight-year plan that predicts owning between 21,000 and 42,000 BTC in 2029, and as much as 260,000 BTC in 2033, all without selling a single satoshi.

If realized, these objectives could make ALTBG one of Europe's most valuable public companies. However, the company's ability to execute this plan effectively remains to be seen. Nonetheless, ALTBG's journey serves as a testament to the evolving landscape of European capital markets and the increasing interest in cryptocurrencies among European investors.