Bitcoin Treasury Firm Capital B Raises $13M to Purchase More BTC

Capital B, a Bitcoin Treasury company trading on  Euronext Growth Paris, has announced a significant capital raise of approximately €11.5 million (roughly $13.3 million) through a capital increase and a convertible bond.

According to the announcement, the firm is issuing convertible bonds, via its Luxembourg-based subsidiary “The Blockchain Group Luxembourg SA,” convertible into shares of Capital B at a price of approximately €3.66 per share. This financial maneuver reinforces the company’s focus on increasing the number of bitcoins per share on a fully diluted basis over time.

Capital B Builds on Previous BTC Purchase

The latest announcement follows a previous capital raise on July 17, where CoinTab reported securing €7.2 million (approximately $8.2 million) to expand its Bitcoin portfolio. These recent funding initiatives come after the company’s earlier ambition to raise $342.7 million to acquire leading crypto assets.

According to the French company, the funds were raised through an ATM (At The Market) offering program in partnership with TOBAM, an asset management firm specializing in innovative investment solutions.

The agreement with TOBAM centers around maximizing the number of bitcoins per share over time. This strategy signifies Capital B’s strong dedication to Bitcoin. Notably, the Blockchain Group also manages subsidiaries specializing in data intelligence, artificial intelligence (AI), and decentralized technology consulting and development.

Despite the announcement, the company’s stock experienced a 1% decline, trading at €2.72. However, the stock demonstrated robust performance following the announcement of plans to raise substantial funds for the acquisition of BTC last week.

Institutional Bitcoin Investment Trend

Undeniably, Capital B is not the only firm to have built a Bitcoin treasury; the trend of investing in the crypto space and raising funds to acquire BTC has gained momentum over the years, attracting companies, countries, and institutions alike.

Several prominent entities, including Strategy (formerly MicroStrategy), Metaplanet, and Semler Scientific, have recently augmented their BTC holdings. This trend highlights the growing acceptance of digital assets within both the business and private sectors.

For example, Strategy recently increased its BTC holdings by adding 21,021 bitcoins, worth $2.4 billion, to its portfolio. The business intelligence company now holds 628,791 BTC, cementing its position as the world’s largest corporate bitcoin holder.

Similarly,  Tokyo-listed firm Metaplanet recently purchased 463 BTC for $53.7 million, bringing its total holdings to 17,595 BTC, with a Bitcoin treasury exceeding $2 billion.

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