Capital B Expands Bitcoin Treasury with €28.7M Private Placement

Capital B SA, Europe's first Bitcoin Treasury Company, has strengthened its position in the market by acquiring an additional 376 BTC for €25.3 million through a private placement. The company raised €28.7 million from global institutional investors, including strategic investors Adam Back and TOBAM, at €0.58 per share. This acquisition brings Capital B's total treasury to 3,521 BTC, valued at approximately €309.4 million with an average cost of €87,878 per bitcoin.

The funds were used to purchase the bitcoin through Swissquote Bank Europe SA, a virtual asset service provider registered in Luxembourg. The newly acquired bitcoin will be held in custody using technology from Swiss firm Taurus. Capital B reported a BTC Yield of 2.17% year to date and a gain of 61.3 BTC, reflecting its strategy of increasing the number of bitcoin held per share over time.

This move follows the model popularized by Strategy, an American software firm that has accumulated a large bitcoin hoard. Back, Blockstream's chief executive, has defended corporate bitcoin treasuries, stating that selling bitcoin for dividends is a normal part of treasury management.