#What recent developments has Capital B made in Bitcoin acquisitions?
Capital B SA, based in Puteaux, France, recently reinforced its position in the cryptocurrency market by acquiring 5 Bitcoin for €0.28 million. This strategic move, announced on August 17, 2026, increased the company’s total Bitcoin holdings to 3,145 BTC. Each Bitcoin was purchased at approximately €55,882. However, it's worth noting that the overall cost basis for their entire Bitcoin treasury is significantly higher at €90,352 per BTC, reflecting a total investment of €284.2 million.
#How did Capital B finance this acquisition?
The recent Bitcoin acquisition was not funded from corporate reserves. Instead, Capital B opted for an at-the-market capital raise, garnering €0.30 million through issuing 647,110 new shares, priced at an average of €0.47 each. This approach illustrates a strategic method of funding that minimizes reliance on existing cash resources while still enabling growth.
Along with this purchase, Capital B also confirmed the conversion of 14,195,352 OCA B-01 convertible instruments held by Blockstream into ordinary shares. This action suggests a significant restructuring of the company’s capital structure for future equity raises focused on Bitcoin purchases.
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#What are Capital B's Bitcoin performance metrics?
To date, Capital B reports a BTC Yield of 2.14%, alongside a BTC Gain of 60.3 Bitcoin and a BTC Euro Gain of €3.3 million. The BTC Yield metric, adapted from the MicroStrategy reporting framework, highlights how much the company's Bitcoin holdings per share have grown, providing a clearer picture of financial progression devoid of the dilutive effects caused by new equity issuances.
#What is the long-term vision of Capital B?
Capital B initiated its Bitcoin treasury strategy on November 5, 2024, under its previous name, The Blockchain Group. The company has expanded its Bitcoin holdings from about 2,000 BTC in mid-2025 to the current total. Its long-term goal is ambitious: to acquire 1% of Bitcoin's total supply by 2033. Given Bitcoin's fixed supply of 21 million coins, this 1% target equates to approximately 210,000 BTC. With approximately 3,145 BTC presently held, Capital B has secured about 1.5% of its target.
Despite this aggressive Bitcoin acquisition strategy, Capital B continues to operate its subsidiaries that specialize in data intelligence, artificial intelligence, and decentralized technology consulting.
#How does this reflect on European institutional adoption of Bitcoin?
Capital B’s multiple equity issuances aimed at funding Bitcoin purchases signify a pivotal moment for institutional adoption in Europe. The company has established itself as Europe’s inaugural dedicated Bitcoin Treasury Company, marking its territory in a growing market. Its collaboration with Swissquote Bank Europe SA and Taurus technology for custody solutions illustrates a commitment to institutional-grade practices within the regulatory framework of MiCA. Furthermore, the successful conversion of the OCA B-01 convertibles streamlines the cap table, reducing structural complexity for future equity raises focused on Bitcoin acquisitions.