Capital B Seeks $122 Billion Financing Mandate to Expand Bitcoin Holdings
Capital B is a Paris-listed French Bitcoin treasury company that raises funds through equity offerings and credit facilities to buy Bitcoin, increasing the amount held per share. The model closely ties its valuation to Bitcoin’s price and its ability to secure financing. It held 3,135 BTC when the proposal was made, putting a spotlight on how much of the enormous authorization it would actually use.
Capital B proposed a financing authorization of up to $122 billion on June 2, 2026, with shareholders able to vote through the June 17 meeting. The company said on June 18 that more than 95% of shareholders had backed the proposal, ultimately approving a €5 billion capital increase and €100 billion in credit facilities. The combined €105 billion, or about $120.4 billion, is a fundraising ceiling, not capital already secured.
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The history behind this eventCapital B Adds 192 Bitcoin in $15.2 Million Purchase
Capital B is a French company listed on Euronext Growth Paris. Formerly known as The Blockchain Group, it has made increasing diluted Bitcoin holdings per share the centerpiece of its treasury strategy. Its continued use of equity financing to buy BTC shows how European listed companies are turning Bitcoin from a trading asset into a corporate reserve. The approach also increases shareholders’ exposure to cryptocurrency price swings and financing conditions.
Capital B said on May 18, 2026, that it had purchased 192 Bitcoin for 13 million euros, or about $15.2 million, at an average price of roughly $79,000 each. The acquisition lifted its total holdings to 3,135 BTC. The purchase came just one week after it completed about $17.8 million in strategic financing on May 11, with investors including Adam Back and Paris-based asset manager TOBAM.
Bitcoin Treasury Firm Capital B Secures $1.3 Million in Financing From Adam Back
Capital B, formerly The Blockchain Group, is a French public company listed on Euronext Growth Paris that holds Bitcoin as a long-term treasury reserve. It aims to increase its fully diluted Bitcoin holdings per share. Continued investment from Blockstream CEO Adam Back signals institutional support for the strategy, though the issuance of new shares and warrants also carries dilution risk.
On May 4, 2026, Capital B issued 10 million BSA 2026-02 warrants, all subscribed by Back at €0.11 each, raising €1.1 million, or about $1.28 million. The warrants expire on May 2, 2029. On May 11, the company raised a further €15.2 million from Back and institutions including TOBAM, with the proceeds earmarked mainly for additional Bitcoin purchases.
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