Capital B Raises $24.5 Million for Its Bitcoin Treasury Amid Market Uncertainty; Blockstream's Adam Back Also Participates

cryptonews.ruPublished on 2026-08-28Last updated on 2026-08-28

Abstract

French company Capital B, which manages a bitcoin treasury, has raised €21.0 million ($24.5 million) through a private share placement. The funding round, priced at €0.58 per unit comprising one share and four warrants, saw participation from legendary cypherpunk and Blockstream CEO Adam Back, as well as asset manager TOBAM. If all warrants are exercised, Capital B could receive an additional €135.8 million ($158 million). The company plans to use the proceeds to purchase 270 bitcoins, raising its total holdings to 3,415 BTC. This would move it to 29th place among public companies with bitcoin treasuries, behind Bitcoin Group SE's 3,605 BTC but far behind leader MicroStrategy's 843,775 BTC. The news follows a recent shareholder vote where Capital B received approval for a massive potential capital increase framework of up to €5 billion. This comes as smaller treasury-holding companies have been selling their assets amidst market uncertainty.

French company Capital B, which manages a bitcoin treasury, announced raising €21.0 million ($24.5 million) through a private placement of shares.

According to an August 28 announcement, the fundraising was conducted at a price of €0.58 per ABSA — one share bundled with four warrants to subscribe for shares — on a non-preemptive basis. Participants in the placement included legendary cypherpunk and CEO of the Bitcoin-focused blockchain development company Adam Back, as well as asset management firm TOBAM.

If all issued warrants are exercised, Capital B would receive an additional €135.8 million ($158 million) in capital injections through the issuance of 144,876,280 ordinary shares. The company reserves the right to initiate an accelerated exercise period for the warrants if the volume-weighted average price of its shares over the previous 20 trading days exceeds 130% of the exercise price of the corresponding warrant tranche.

Capital B plans to use the proceeds from the placement to acquire 270 bitcoins ($BTC), increasing its total reserves to 3,415 $BTC. According to CoinMarketCap data, the company currently ranks 29th among public companies with bitcoin treasuries: its reserves hold 3,139 $BTC worth less than $249 million — behind Bitcoin Group SE, which holds 3,605 $BTC worth less than $286 million. While Capital B's reserves are significant, they are not comparable to those of the first and largest company with a bitcoin treasury, Strategy: at the time of writing, it held 843,775 $BTC worth nearly $67 billion.

The news comes after Capital B presented a proposal to its board of directors in early June, which included authorization for a capital increase of up to €5 billion ($5.8 billion) through the issuance of 125 billion shares at the current nominal value and credit instruments worth $116 billion. The resolution was passed with 162,486,459 votes — 99.34% — in favor, while smaller companies managing treasury reserves were offloading their assets.

Related: 'Bitcoin Bear Market Is Over' as Price Metric Repeats 2023 Recovery: CryptoQuant CEO

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Related Questions

QHow much funding did Capital B raise, and through what method?

ACapital B raised €21.0 million (approximately $24.5 million) through a private placement of shares.

QWho were the notable participants in Capital B's recent private placement?

ANotable participants included legendary cypherpunk and CEO of the Bitcoin-oriented blockchain development company Adam Back, as well as the asset management company TOBAM.

QHow many bitcoins does Capital B plan to purchase with the new funds, and what will its total holdings become?

ACapital B plans to use the funds to purchase 270 bitcoins, which will increase its total holdings to 3,415 bitcoins.

QWhat is the potential additional capital Capital B could receive if all issued warrants are exercised?

AIf all issued warrants are exercised, Capital B could receive an additional €135.8 million (approximately $158 million) in capital.

QAmong public companies with Bitcoin treasuries, what rank does Capital B currently hold and who is the largest?

ACapital B currently ranks 29th among public companies with Bitcoin treasuries. The largest is MicroStrategy, which held 843,775 bitcoins at the time of writing.

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