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▲ Bitcoin (BTC) ©Godasol
Capital B, a major player in the European virtual asset market, has secured substantial new funds, once again fueling the competition to accumulate Bitcoin (BTC).
According to the cryptocurrency media outlet Bitcoinist on May 12 (local time), Capital B, listed on the French stock exchange, recently raised approximately $17.8 million (15.2 million euros) through a private placement. Notably, Blockstream CEO Adam Back and Paris-based asset management firm TOBAM participated as key investors in this round. Adam Back, in particular, participated in the company's fundraising twice within the last week, demonstrating strong confidence in Bitcoin's treasury strategy within Europe.
The potential size of this fundraising could grow even larger. Each issued share includes a warrant exercisable at a fixed price of $0.78, which, if fully exercised, could lead to an additional capital increase of up to $116.5 million. The company plans to purchase approximately 182 additional BTC by combining the capital secured in this round with operating profits. If the plan is executed, Capital B's total holdings will reach approximately 3,125 BTC.
Currently, Capital B holds 2,943 Bitcoins, valued at approximately $237 million. This ranks it 25th among companies worldwide and second in Europe, after Germany's Bitcoin Group SE. While many companies have been adopting a conservative stance recently, selling assets or repaying debts amidst ongoing market uncertainty, Capital B's aggressive buying spree is drawing significant attention from the industry.
In contrast to Nasdaq-listed Nakamoto, which introduced a derivatives program to hedge against downside risks, and the stablecoin regulatory firm GENIUS Group, which sold all 84 of its Bitcoins to repay debt, Capital B's actions are starkly different. Experts analyze that these moves indicate a strong continued will among European companies to accumulate Bitcoin as a treasury asset.
Following the performance announcement, Capital B's stock price rose by approximately 4.25%, reflecting positive market expectations. With Michael Saylor's Strategy continuing its aggressive offensive by raising $2.5 billion in April, Capital B's latest move is expected to be a significant signal of the global Bitcoin treasury race expanding into Europe.
*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*
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