Capital B plans a Bitcoin treasury after fresh €21 mln funding – Details

The 27th largest Bitcoin [BTC] digital asset treasury (DAT) aka Capital B recently announced that it is is raising €21 million from institutional investors to buy more Bitcoin. According to a press release on the 28th of August, Capital B is issuing 36.22 million new shares.

This coincided with the firm holding 3,145 BTC in its vault valued at $244.3 million. That said, so far the firm has made 31 purchases since the 5th of November, 2024.

Capital B’s plan of action

Given the current accumulation rate, the company estimates that the proceeds from this financing, combined with ongoing operations, could enable it to acquire approximately 270 additional BTC.

That would potentially bring its total Bitcoin holdings to around 3,415 BTC.

The financing includes strategic investors such as Adam Back and TOBAM. With this, Adam Back’s direct shareholding will rise from 39.65 million shares to 54.30 million shares. Meanwhile, TOBAM’s holdings will also increase from about 9.49 million to 12.08 million shares.

This comes as Capital B’s stock price was trading at €0.57 after a drop of 8.06% in the past trading day. Meanwhile, the price of Bitcoin was trading at $77,671.76 after a drop of 1.9% in the past 24 hours and a hike of over 19% in the past month.