Paris-listed firm Capital B (ALCPB) has acquired 126 Bitcoin for approximately €12.4 million, elevating its total holdings to 2,201 BTC worth €201.5 million at acquisition cost. The purchase was financed through strategic capital raises from institutional investors Peak Hodl Ltd (€8.7 million) and TOBAM (€5 million), who received new ordinary shares in exchange.
The company, trading on Euronext Growth Paris, has rapidly scaled its Bitcoin reserves from just 15 BTC in November 2024 to current levels, achieving a staggering 1,519.5% year-to-date BTC yield and 18.1% quarterly return. Capital B maintains an average acquisition cost of €91,568 per BTC, with the portfolio's market value now at €217.3 million. The firm targets 3,000 BTC by September 2025 and aims to hold 1% of all Bitcoin by 2033.
This expansion coincides with bond conversions strengthening Capital B's capital structure, including TOBAM converting €1.5 million bonds into shares. The company ranks 24th globally in corporate Bitcoin holdings, matching HIVE Digital Technologies. The move reflects a broader European trend of firms emulating MicroStrategy's treasury strategy, exemplified by UK-based Smarter Web Company's Bitcoin-denominated bond and Parataxis Holdings' planned $640 million NYSE-listed Bitcoin treasury.
Despite concerns from Franklin Templeton and VanEck's Matthew Sigel about volatility risks and shareholder dilution, corporate Bitcoin adoption continues accelerating, with 287 companies collectively holding over 3.64 million BTC. Bitcoin's price rose 2.42% to $119,310 amid the news, with upcoming US CPI/PPI data and Fed rate decisions poised to influence near-term volatility.