INSTITUTIONAL | Capital B Becomes Second-Largest Publicly-Traded Bitcoin Holder in Europe

French-listed bitcoin treasury firm, Capital B, said it bought 376 bitcoin for €25.3 million ($29.4 million), taking its total holdings to 3,521 BTC.

The purchase is the company’s largest bitcoin acquisition since September 2025 when it bought 551 BTC.

Capital B said the latest purchase was funded following about €30.1 million ($35 million) in capital raises, including a €28.7 million private placement backed by investors including Blockstream co-founder Adam Back and French asset manager TOBAM.

The company’s bitcoin holdings have now cost about €309.4 million ($359.3 million), giving it an average acquisition price of €87,878 ($102,058) per bitcoin.

Capital B’s latest BTC purchase puts it ahead of H100 Group, a Sweden-based bitcoin treasury firm, with 3, 506 Bitcoins.

In March 2026, H100 acquired two Nordic crypto companies, a deal that lifted its reserves to over 3,500 bitcoins nearly tripling its total holdings making it the largest publicly-listed treasury company in Europe at the time.

The transaction was structured as a bitcoin-for-bitcoin exchange, meaning ownership in the combined entity would be determined by contributed BTC rather than cash.

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