European Bitcoin Treasury Capital B Raises €21M with Blockstream and TOBAM Backing

Capital B, Europe's first publicly listed bitcoin treasury company, has closed a €21 million fundraise backed by Adam Back, CEO of Blockstream, and TOBAM, a French institutional asset manager.

The private placement will allow Capital B to acquire approximately 270 additional bitcoins and strengthen its position in the sector, which has been under pressure since 2025.

Capital B built the bulk of its BTC position during the first half of 2026 through successive funding rounds. The company is targeting a total stack of 3,415 BTC, up from 3,145 currently, with a total treasury value of approximately $245 million at a spot price of $77,960 per bitcoin.

The deal sends a powerful signal to the European market, as Capital B navigates market headwinds and contrasts its aggressive accumulation strategy with difficulties faced by other corporate treasuries. With this fresh capital, Capital B aims to become the go-to bitcoin exposure vehicle for European institutional investors seeking an alternative to ETFs or direct custody.