Alexandre Laizet – ALTBG: Europe’s First Bitcoin Treasury Company | BTC Prague 2025 Keynote

At the BTC Prague stage, I shared how The Blockchain Group became Europe’s first Bitcoin treasury company — and how we grew our Bitcoin per share by more than 10x in six months, delivering 3,000% stock performance while staying purely Bitcoin-focused.

The Playbook Is Simple

The only thing better than Bitcoin is more Bitcoin. And a Bitcoin treasury company exists for exactly that reason. The playbook Michael Saylor pioneered is straightforward: the world is adopting Bitcoin, so you use the elasticity of capital markets to acquire the most inelastic asset on earth. Raise capital, accumulate Bitcoin, hold it forever. Never sell it, never lose it.

The Blockchain Group is listed on Euronext Growth Paris under the ticker ALTBG. We are Europe’s first and largest Bitcoin treasury company — and we are just getting started.

Bitcoin Per Share Is the Only Metric That Matters

Every morning I wake up thinking about BTC yield. I work all day on BTC yield. I dream BTC yield. That is my only function in this company. Because we believe Bitcoin per share is the most important metric in finance today.

In about six months, we increased Bitcoin per share by more than 10x. Over eight months, our stock is up 3,000% while Bitcoin itself is up 42%. That gap exists because of our relentless focus on accumulating Bitcoin in the most accretive way possible.

When we started, we had roughly 40 Bitcoin on the balance sheet and 100 million shares. By March, we grew our Bitcoin holdings 15x to 620 Bitcoin while only doubling the share count. That single operation generated 700% BTC yield. Year to date, we have delivered a 1,000% increase in Bitcoin per fully diluted share.

Innovative Financial Instruments

We have used several tools to get here. We raised capital through equity in private placement, through BTC-denominated convertible bonds — the first fully Bitcoin-denominated financial instrument of its kind, completely skipping fiat — and through share subscription warrants that let all our shareholders participate in the strategy.

We also partnered with TOBAM, a two-billion-euro asset manager that has been leading Bitcoin adoption in France since 2017, to create an ATM-type structure — the first of its kind in Europe. This lets us accumulate Bitcoin on a regular, ongoing basis.

We raised 50 million euros in the first five months, then 100 million more in just two months. We have now received capital raising authorization of more than 10 billion euros to accelerate further — and we have not yet launched public offerings or fully tapped the US market.

What 1.5% Daily BTC Yield Means

Historically, we have generated a 1.5% BTC yield on a daily basis for our shareholders. Let that sink in. Five years ago I was working with corporate treasurers in France who were putting cash into monetary funds yielding 2% — per year, sometimes even negative. Now we are generating accretion for shareholders on a Bitcoin standard at 1.5% daily.

If you look at our share price in sats — not euros, because fiat currencies are going to zero — it has gone from 230 sats to over 5,000 sats. Every other asset class, when priced in Bitcoin, looks like a stablecoin heading to zero.

Building for the Long Term

We have published ambitious goals. We aim to acquire 1% of the total Bitcoin supply — approximately 200,000 BTC — by 2033. If Bitcoin reaches one million dollars or euros in the next eight to ten years, that would position us to become Europe’s largest publicly traded corporation.

This is not a casino. The stock going up 3,000% looks wild, but what matters is whether the team is building solid foundations and converting market premium