Cryptocurrency treasury organization Capital B (ALCPB) has secured 7.6 million euros ($8.8 million) from Bitcoin investor and developer Adam Back to boost its reserves of the leading cryptocurrency.
The Euronext Growth Paris-listed entity distributed 13,181,030 shares accompanied by four warrants each at a price of 58 euro cents per share, as indicated by a filing on Wednesday.
The business intends to allocate the funds toward purchasing as many as 376 bitcoin BTC, which would elevate its aggregate reserves to 3,521 BTC ($269.5 million). This acquisition would position Capital B with the second-largest bitcoin treasury among publicly traded European enterprises, trailing only German corporation Bitcoin Group SE (ADE), which holds 3,605 BTC, according to Bitcoin Treasuries.
Adam Back, chief executive officer of Bitcoin infrastructure firm Blockstream, stands as a prominent industry figure, recognized as an early cypherpunk referenced within the original 2008 white paper.
Capital B previously reported holding 3,145 BTC accumulated at a cost of 284.2 million euros, representing an average price of 90,352 euros. These holdings currently hold a market value of 214 million euros ($248 million).
The enterprise’s shares listed in Paris changed hands at 48.5 euro cents around midday central European time on Wednesday, reflecting a 2.1% decline on the session amid a broader market pullback in digital assets. Bitcoin traded under $77,000, registering a decrease of nearly 1.8% over the preceding 24 hours.
The share transaction involving Back constitutes a component of a larger 21 million euro investment that additionally incorporated strategic participant TOBAM via the creation of 36,219,070 shares.
Every newly issued share includes four five-year warrants granting investors the option to acquire additional shares at a later date. Should every warrant be exercised, Capital B would release an extra 144.9 million shares and generate 135.8 million euros, lifting the total potential gross capital injection to 156.8 million euros.
This arrangement leaves current shareholders subject to significant dilution. An investor holding 1% of Capital B prior to the share placement would see their stake drop to 0.90% afterward and down to 0.65% if all new warrants are exercised.
Capital B intends to execute a reverse stock split, consolidating every 10 existing shares into one on September 8, with warrant proportions and strike prices adjusted accordingly.
Originally published at https://www.coindesk.com/business/2026/08/29/capital-b-aims-to-add-376-btc-to-bitcoin-treasury-following-usd8-8-million-adam-back-investment.
