French bitcoin treasury company Capital B is preparing to expand its cryptocurrency holdings by roughly 376 BTC after securing an 8.8 million euro investment from Blockstream chief executive Adam Back, according to a regulatory filing published Wednesday.
Details of the Capital Raise
The Euronext Growth Paris-listed firm said it issued 13,181,030 new shares as part of the transaction. Each share was priced at 58 euro cents and came bundled with four warrants, giving investors the option to acquire additional stock in the future.
The fresh capital from Back, a prominent figure in the bitcoin community and one of the industry's earliest developers, underscores continued institutional interest in companies that structure their balance sheets around the cryptocurrency.
A single 8.8 million euro backing could push Capital B's treasury higher by hundreds of bitcoin.
Building a Bitcoin Treasury
Capital B is among a growing cohort of publicly traded firms that have adopted bitcoin as a core reserve asset, following the treasury strategy popularized by larger corporate holders. The planned addition of 376 BTC would further strengthen the company's position among European players pursuing that model.
The involvement of Back lends notable credibility to the raise. As the head of Blockstream and the inventor of Hashcash, a proof-of-work system referenced in bitcoin's original design, his participation signals confidence in the firm's approach.
Key elements of the deal include:
- 13,181,030 shares issued at 58 euro cents each
- Four warrants attached to every share
- An 8.8 million euro investment led by Adam Back
- A targeted purchase of approximately 376 BTC
The move reflects a broader trend of companies leveraging equity issuance to accumulate bitcoin, betting that long-term appreciation will outweigh the dilution created by new share offerings.