Capital B and Metaplanet Load Up on Bitcoin With Millions in Fresh Capital Raises

Capital B confirmed the purchase of 8 Bitcoin ($BTC) for €0.5 million, pushing its total treasury to 2,844 $BTC valued at €264.4 million.

The Paris-listed firm, which brands itself as Europe’s first Bitcoin treasury company, reported a year-to-date $BTC yield of 0.29% as it continues funding purchases through equity raises with TOBAM.

Corporate $BTC Buying Intensifies on Two Continents

Capital B (ALCPB) has steadily expanded its Bitcoin balance sheet since adopting a Bitcoin standard in November 2024. The company acquired the latest batch at roughly €60,934 per $BTC through an ATM-type capital increase at €0.71 per share.

Alexandre Laizet, Board Director of Bitcoin Strategy at Capital B, shared the updated figures on March 16.

Meanwhile, the race to stack sats is heating up in Asia. Japan’s Metaplanet disclosed a new share placement that pulled in approximately $255 million from global institutional investors.

CEO Simon Gerovich said the new shares were priced at a 2% premium and paired with fixed-strike warrants at a 10% premium.

Those warrants could unlock roughly $276 million in additional capital upon exercise, giving the firm up to $531 million in total buying power.

Metaplanet Introduces Novel Warrant Mechanism

Gerovich also revealed that Metaplanet issued 100 million Moving Strike Warrants with a first-of-its-kind mNAV clause. Exercise is permitted only when the stock trades above 1.01x mNAV, a guardrail designed to protect existing shareholders from dilution.

The structure could raise an estimated $234 million in additional capital, but only when issuance would be accretive to $BTC per share.

“~$255m to buy more $BTC,” remarked Dylan LeClair

Metaplanet targets 210,000 $BTC as part of its long-term accumulation plan. The firm held 35,102 $BTC at the end of 2025 and has continued buying through 2026 despite sharp price volatility.

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