Capital B, a Paris-based tech firm formerly known as The Blockchain Group, has bought 58 Bitcoins for €5.9 million. The purchase brings its total holdings to 2,013 BTC, worth roughly €182.9 million. The company is listed on Euronext Growth Paris.
According to its press release, the company aims to be Europe’s first Bitcoin Treasury Company, stating that Bitcoin is part of its long-term strategy to guard against global economic risks. The company now ranks among Europe’s largest corporate Bitcoin holders.
This new Bitcoin was bought in two rounds. On July 15, Capital B raised €5 million at €4.01 per share, which was fully subscribed by Crypto pioneer Adam Black. This funded the purchase of 44 BTC. A week later, on July 22, the company raised another €1.6 million through a share sale at €4.10, fully subscribed by TOBAM funds. That brought in 14 more BTC.
Furthermore, the company noted that its Bitcoin yield so far this year stands at 1,409.8%, having gained 563.9 BTC, translating to over €57 million. It now values its BTC net assets at around €205.8 million.
All Bitcoin purchases were executed by Banque Delubac & Cie, a registered crypto service provider in France. While Custody of the assets is managed by Swiss-based Taurus, a digital asset firm. The average price paid for Bitcoin by the company was €90,863.
This comes a few days after the company says it wants to grow Bitcoin holdings per share over time, while also announcing that it had rebranded from The Blockchain Group to Capital B on July 21. Along with the name change, it launched a new logo, website, and Bitcoin analytics dashboard.
In the same announcement, the company revealed plans to expand its international presence. It is setting up an office in Abu Dhabi to attract more institutional investors and grow its reach beyond Europe.
Meanwhile, another capital round worth €8.7 million has also been subscribed by Peak Hodl Ltd. If completed, this will help Capital B buy an extra 70 BTC, potentially pushing its total to 2,083 BTC.
The company’s move mirrors that of MicroStrategy, a U.S. firm known for its massive Bitcoin stash. A company spokesperson said, “We are focused on growing Bitcoin value per share while strengthening our presence in global markets.”
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