Paris-listed bitcoin treasury company Capital B is developing a digital credit instrument for European investors, drawing heavily on the model pioneered by Strategy’s STRC and Strive’s SATA offerings. The news was confirmed by board director Alexandre Laizet during an interview with The Block at BTC Prague.
“Our role, our responsibility, is to provide for a solution in Europe which is crippled by high taxes, crippled security issues, and old, unadapted regulations for the digital era,” Laizet said. “Our laser focus is to provide a digital credit instrument adapted to Europe that could really change the configuration of the markets.”
The planned instrument will use Capital B’s bitcoin holdings as underlying collateral. The firm currently holds 3,139 BTC in its treasury and aims to deliver double-digit yields while keeping volatility below double digits. Laizet argued that bitcoin treasury companies possess an inherent edge: “A bitcoin treasury company already has 40-50 years of cash flows on its balance sheet today — that asset they have on the balance sheet is growing at 30-60% annually.”
To illustrate the sustainability of such yield strategies, Laizet pointed to Strategy’s recent move where it sold 32 BTC to cover STRC dividends, only to acquire 1,587 BTC shortly afterward. He also noted a tenfold increase in investor inquiries regarding digital credit products compared to the previous year.
Risks remain, Laizet acknowledged, including bitcoin price devaluation, execution risk, and counterparty exposure. “Of course there is risk of execution, there is a risk of custody, but we work only with regulated banks. We have a team of capital market banking, technology, corporate finance experts,” he said, declining to comment on the instrument’s launch timeline.
Capital B, listed on Euronext Growth Paris under ticker ALCPB, is backed by bitcoin-focused investors such as Adam Back and Fulgur Ventures. It aims to accumulate 15,000 BTC by 2027 and eventually hold 1% of bitcoin’s total supply by 2033.
