Capital B Doubles Down on Bitcoin: €2.2M Treasury Boost Led by Adam Back

Bitcoin just got a heavyweight endorsement—and fresh ammunition.

Cypherpunk Cash Injection

Capital B’s latest €2.2M raise, spearheaded by Blockstream CEO Adam Back, isn’t just another funding round. It’s a bet that corporate treasuries will keep fleeing fiat for harder money—even as traditional finance clings to its spreadsheets.

The Back Effect

With Back’s involvement, the move screams credibility. The man who inspired Satoshi’s whitepaper doesn’t back losers. Or overleveraged DeFi schemes.

The Bottom Line

While banks debate yield curves, Bitcoiners are busy stacking sats. Smart money? Or just money that’s tired of watching inflation eat 2% annual returns? Either way—game on.

TLDR

• Capital B Raises €2.2M to Boost Bitcoin Holdings, Backed by Adam Back
• Capital B Secures €2.2M, Strengthens BTC Treasury Amid Market Shifts
• Adam Back Backs Capital B’s €2.2M Raise for Strategic Bitcoin Growth
• Capital B Adds €2.2M in Fresh Funds, Eyes 17 More Bitcoin in Reserve
• Capital B Grows Bitcoin War Chest With €2.2M Raise and Note Conversion

Capital B, listed on Euronext Growth Paris, has executed a €2.2 million capital raise. Adam Back, a key industry executive, fully subscribed to the entire issuance. This funding strengthens Capital B’s strategy to expand its Bitcoin reserves amid shifting global economic conditions.

€2.2M Capital Raise Finalized Without Pre-Emptive Rights

The Board of Directors approved the issuance of 1,000,000 new ordinary shares on August 15, 2025. The shares were priced at €2.238 each, reflecting a 15% discount to the 20-day VWAP average. This share price still carried a premium of nearly 9% over the August 15 closing price.

🟠 Capital B announces a capital increase for an amount of ~€2.2 million with Adam Back (@adam3us) to pursue its bitcoin Treasury Company strategy⚡️

Full Press Release (EN): https://t.co/MxyE7lIq27

Full Press Release (FR): https://t.co/3iuqaHMf9s

BTC Strategy (EN):… pic.twitter.com/P3daccJUAJ

— Capital B (@_ALCPB) August 18, 2025

The entire capital raise was reserved for Adam Back, with pre-emptive rights waived as per shareholder authorization. The offering will not require an AMF-approved prospectus due to its structure. Capital B will list the new shares on Euronext Growth Paris’s offer compartment.

The transaction, structured under delegated authority from the June 10 shareholder meeting, adds fresh capital to the company’s balance sheet. The firm will utilize these proceeds primarily to acquire Bitcoin. This aligns with its aim to increase the number of BTC held per share on a fully diluted basis.

Fulgur Ventures Converts OCAs into Equity

Capital B confirmed the conversion of 4,760,000 OCA B-01 notes held by Fulgur Ventures. This resulted in the issuance of 8,750,000 new ordinary shares at a conversion price of €0.544 per share. The conversion was settled through a debt set-off and formally recorded by the Board.

The conversion price included a 30% premium over the 20-day VWAP calculated before the March 4, 2025 board meeting. This conversion adds significant dilution but supports Capital B’s liquidity and strategic goals. The increase in total shares reinforces its fully diluted equity structure.

As a result, the total number of shares increases, though certain instruments like BSA 2025-01 remain unexercised. The fully diluted share count reflects free shares and legal adjustments already committed. However, future potential equity from TOBAM’s €300 million authorization remains excluded for now.

Bitcoin Strategy Strengthens as Capital Grows

Capital B expects to acquire approximately 17 new Bitcoin from this funding round, raising its total holdings to an estimated 2,218 BTC. The company maintains its position as Europe’s first publicly listed Bitcoin Treasury firm.

The MOVE follows a broader trend of companies using Bitcoin as a hedge against macroeconomic risks. Amid inflation and geopolitical shifts, firms like Capital B are adopting BTC as a treasury reserve asset. Bitcoin’s capped supply and decentralized structure appeal as a store of value.

The company joins peers like MicroStrategy in strengthening digital asset exposure through balance sheet allocations. Institutional confidence in Bitcoin continues to rise as regulatory clarity improves. With each strategic action, Capital B is embedding Bitcoin into its long-term financial planning.