Capital B, formerly The Blockchain Group, and listed on Euronext Growth Paris. It has confirmed the acquisition of 58 additional bitcoins for approximately €5.9 million. This brings the Group’s total holdings to 2,013 BTC, valued at nearly €182.9 million at an average price of €90,863 per bitcoin.
With this move, Capital B reinforces its strategy as Europe’s first Bitcoin Treasury Company. It aims to grow its bitcoin holdings per fully diluted share over time. The company holds subsidiaries focused on Data Intelligence, AI, and decentralized technologies.
Funding Rounds Back New BTC Purchases
The recent BTC acquisition was funded through two capital increases finalized this month. The first, announced on July 15, raised ~€5 million at €4.01 per share. It was fully subscribed by crypto pioneer Adam Back. This allowed the company to acquire 44 BTC.
The second, finalized on July 22 as part of the company’s “ATM-type” capital increase program. It raised ~€1.6 million at ~€4.10 per share, resulting in the purchase of 14 BTC. TOBAM funds led the subscription, further cementing institutional interest.
BTC Strategy Shows Strong Performance
Capital B reports a staggering BTC yield of 1,409.8% year-to-date and 10.1% quarter-to-date. The company also saw a BTC gain of 563.9 BTC YTD, translating to a €57.6 million gain over the same period.
The company’s net asset value for BTC holdings stands at approximately €205.8 million, reflecting both the accumulation strategy and market appreciation.
Capital Expansion and International Reach
Beyond BTC accumulation, Capital B is expanding its global footprint. On July 21, the company announced its transformation from The Blockchain Group to Capital B. This rebranding included the rollout of a new logo, revamped website, and a Bitcoin analytics dashboard.
To take its global strategy up a notch, Capital B is setting up shop in Abu Dhabi, UAE. The goal is to expand its footprint in key international markets and draw in institutional investors who share its Bitcoin-first outlook.
Execution and Custody
Banque Delubac & Cie, a DASP registered with the AMF, executed the BTC purchases. The bitcoin is secured through custody infrastructure provided by Taurus, a Swiss digital asset firm.
Further capital increases are ongoing. One, subscribed by Peak Hodl Ltd for ~€8.7 million, could fund the acquisition of an additional 70 BTC. That pushes potential total holdings to 2,083 BTC.