European Company Capital B Adds 376 BTC to Treasury for $29.4 Million

Capital B, a Paris-listed holding company that calls itself Europe's first Bitcoin Treasury Company, has made its largest Bitcoin acquisition in a year. The company purchased 376 BTC for approximately $29.4 million as part of a €28.7 million private placement funded by global institutional investors.

The financing was done at a price of €0.58 per share with four subscription warrants attached to each share, which could generate up to €185.3 million in additional capital if fully exercised. Adam Back, the CEO of Blockstream, contributed €7.6 million to the round and now owns 17.64% of Capital B on an ordinary basis.

The purchase brings Capital B's total treasury to 3,521 BTC, worth approximately $359.7 million at an average acquisition price of €87,878 per coin. This represents a roughly 12% increase in the company's holdings and solidifies its position among notable participants in the growing corporate Bitcoin ecosystem.