Capital B Doubles Down on Bitcoin with $29.4 Million Purchase

France's Capital B has significantly expanded its Bitcoin holdings by purchasing an additional 376 BTC for approximately $29.4 million, bringing its total to 3,521 BTC.

The company's cumulative investment in Bitcoin now stands at €309.4 million, with an average purchase price of €87,878 per coin.

Capital B funded this latest purchase through a recent private share sale, which raised €28.7 million, and additional investments by Blockstream co-founder Adam Back, who increased his stake in the company to 17.64% with a further investment of €7.6 million.

This marks Capital B's largest Bitcoin purchase in nearly a year, surpassing its previous acquisition of 551 BTC in September last year.