by Coinstrooper Crypto Articles
Quick Take
  • The Paris-listed firm priced shares at €0.66 each, a 1.51% premium to its May 8 close.
  • Four warrants attached to every share could unlock an additional €99.1 million in capital if fully exercised at higher prices.
  • The new proceeds, combined with ongoing operations, could enable Capital B to acquire 182 additional Bitcoin.
  • That would lift the company’s potential total holdings to 3,125 BTC.

What Happened

The new proceeds, combined with ongoing operations, could enable Capital B to acquire 182 additional Bitcoin. That would lift the company’s potential total holdings to 3,125 BTC.

Back’s involvement marks his second investment in Capital B within a week. On May 4, he subscribed to €1.1 million in warrants that lifted his fully diluted stake to roughly 9.97%.

The funding round signals that European listed firms intend to mirror the playbook Strategy used to assemble more than 818,000 BTC. Whether Capital B can scale acquisitions without diluting Bitcoin-per-share is the next test investors will watch.

Market Context

European Bitcoin treasury company Capital B raised €15.2 million ( ~$17.8 million) through a private placement backed by Blockstream founder Adam Back and asset manager TOBAM, accelerating its push to compete with US-listed Bitcoin (BTC) accumulators.

The Paris-listed firm priced shares at €0.66 each, a 1.51% premium to its May 8 close. Four warrants attached to every share could unlock an additional €99.1 million in capital if fully exercised at higher prices.

Capital B Targets 3,125 Bitcoin With Fresh Funding

Capital B already ranks among the 25 largest corporate Bitcoin holders, with roughly 2,943 BTC as of late April. The firm adopted a Bitcoin standard in November 2024 and has steadily expanded reserves through share issuance.

Each ABSA bundles two Warrants 2026-03 priced at €0.86, one Warrant 2026-04 at €1.12, and one Warrant 2026-05 at €1.46. Full exercise would issue 92,155,376 new shares.

Capital B can trigger an accelerated warrant exercise window if its volume-weighted average price stays 30% above the relevant strike for 20 consecutive trading days.

The post Adam Back Backs Capital B’s $17.8 Million Bitcoin Raise appeared first on BeInCrypto.

Why It Matters

Adam Back Doubles Down on European Treasury Plays

The Blockstream founder has become a vocal backer of Bitcoin treasury vehicles outside the United States. He previously committed 30,000 BTC to the Cantor Fitzgerald-linked Bitcoin Standard Treasury, a SPAC structure valued at roughly $4 billion.