European-listed investment firm Capital B has announced a €21 million ($24.45 million) capital increase aimed at global institutional investors, with proceeds intended to purchase up to 270 additional Bitcoin. If fully executed, the company’s total Bitcoin holdings would rise from approximately 3,145 BTC to about 3,415 BTC.
The offering consists of 36,219,070 newly issued shares priced at €0.58 per share. Blockstream CEO Adam Back and digital asset manager TOBAM are among the participants in the capital raise. Capital B stated that the funds, combined with existing operating capital, would be used to buy Bitcoin on the open market, subject to market conditions and regulatory approvals.
The move reflects a broader trend of publicly traded companies adopting Bitcoin as a treasury reserve asset, following the lead of firms such as MicroStrategy and Tesla. Capital B aims to provide shareholders with indirect exposure to Bitcoin’s potential upside while navigating a volatile cryptocurrency market.
The participation of Adam Back, a prominent figure in the Bitcoin ecosystem, adds credibility to the offering and signals confidence in Bitcoin’s long-term value proposition. Investors will likely monitor the offering’s progress and subsequent Bitcoin purchases for signs of the company’s conviction in the asset’s future performance.
