Capital B Buys More Bitcoin Below Cost as Treasury Remains Underwater
Capital B has continued its aggressive Bitcoin accumulation strategy despite being underwater on its treasury's net asset value. The company recently purchased 13 BTC for €0.97 million at an average price of €74,364 per coin, which is below the company's overall acquisition cost of €87,805.
This latest purchase brings Capital B's total holdings to 3,538 BTC acquired for a total of €310.6 million. The company's unrealized loss remains significant, with its treasury valued at approximately €259.9 million, resulting in an unrealized loss of around €50.8 million or $57.7 million.
Despite being underwater, Capital B continues to raise capital for further purchases, including a recent funding round involving Adam Back and TOBAM. The company's Bitcoin Yield year-to-date stands at 2.20%, indicating that its financing activities have expanded Bitcoin exposure per share despite dilution from new equity issuance.