Europe’s second-largest Bitcoin treasury company just got a significant cash injection. Capital B , listed on the French stock exchange, has raised 15.2 million euros — roughly $17.8 million — through a private share placement, with notable backing from Blockstream CEO Adam Back and Paris-based asset manager TOBAM. A Bigger Prize On The Horizon The real number to watch, though, may be much larger. Each share in the deal came attached with four subscription warrants at a fixed price of $0.78. If all of those warrants are exercised, Capital B could pull in an additional $116.5 million through the issuance of about 92 million new shares, according to board director of Bitcoin strategy Alexandre Laizet. The company said the fresh capital, combined with revenue from its ongoing operations, could allow it to purchase around 182 more Bitcoin. That would push its total holdings to roughly 3,125 BTC. Back In The Picture — Again Adam Back’s involvement raised eyebrows. This is the second time in a week the cryptographer and Blockstream chief has backed Capital B. Just seven days earlier, Back participated in a separate $1.3 million raise from the same company. Capital B currently holds 2,943 BTC, valued at approximately $237 million. That makes it the 25th-largest corporate Bitcoin holder in the world and the second-largest in Europe, trailing only Germany’s Bitcoin Group SE, according to data from Bitcointreasuries. The timing of the raise sets Capital B apart from much of the rest of the corporate Bitcoin sector. While other firms have been pulling back — selling holdings, cutting debt, or setting up hedging programs after months of soft market conditions — Capital B is still buying. Nakamoto , a Nasdaq-listed Bitcoin treasury firm, announced a derivatives program in late April to guard against downside risk. Earlier, Genius Group sold its entire 84 BTC treasury to pay off an $8.5 million debt. Shares Climb After Announcement Capital B shares climbed about 4.25% on Monday following the news, trading near 0.67 euros. The stock is still down around 10% for the year. Strategy , the company led by Michael Saylor, raised $2.5 billion in late April through stock and preferred share sales. A smaller raise by XCE — $794,000, also backed by Adam Back — was announced around the same time. Capital B’s latest move signals that at least some European companies are still pressing forward with Bitcoin accumulation, even as conditions remain uncertain. Featured image from FinanceFeeds, chart from TradingView
