Key Takeaways
- • Capital B secured shareholder approval to issue up to €5 billion ($5.8 billion) in new equity and €116 billion in credit instruments, providing a combined €122 billion ($122 billion) authorization to accelerate Bitcoin acquisitions.
- • The Paris-based Bitcoin treasury company has accumulated 3,139 BTC as of mid-June 2026, positioning itself among Europe's largest corporate Bitcoin holders following recent acquisitions of 192 BTC ($15.2 million) and additional smaller purchases.
- • Capital B has raised approximately $325 million in capital to date, including $17.8 million from strategic investors such as Blockstream CEO Adam Back and Parisian asset manager TOBAM, demonstrating institutional support for its treasury strategy.
- • The shareholder vote occurred on June 17, 2026, with voting conducted online ahead of the company's combined general meeting, enabling rapid capital deployment for continued Bitcoin purchases.
- • Capital B's stock declined 7% immediately following the announcement and has fallen 44% over the preceding six months, while Bitcoin holdings represent a core long-term strategy despite near-term equity market pressure.
Summary
Capital B, Europe's first listed Bitcoin treasury company, obtained shareholder approval on June 17, 2026, to authorize substantial new capital-raising instruments aimed at accelerating its digital asset acquisition program. The authorization comprises up to €5 billion in equity issuance through 125 billion shares at nominal value and €116 billion in credit facilities, providing the firm with €122 billion ($122 billion) in total deployment capacity.
The proposal was submitted by Alexandre Laizet, Capital B's board director of Bitcoin strategy, and represents a significant expansion of the company's financial flexibility. Capital B filed the shareholder motion approximately two weeks after completing a 192 BTC acquisition for $15.2 million at an average price of $78,948 per Bitcoin. The company subsequently announced an additional 4 BTC purchase, bringing its total holdings to 3,139 BTC by mid-June 2026. This accumulation strategy positions Capital B among the most substantial corporate Bitcoin holders globally, comparable to or exceeding holdings by competing treasury companies such as Twenty One Capital and Metaplanet.
Capital B's funding structure reflects strong institutional backing. The company has raised approximately $325 million in capital to date, including a $17.8 million strategic investment round backed by prominent figures including Adam Back, CEO of Blockstream, and TOBAM, a Paris-based asset management firm. This investor composition underscores confidence in the company's treasury strategy despite volatile near-term equity performance.
The equity market has reacted negatively to the announcement, with Capital B's share price declining 7% immediately following disclosure and trading at $0.56 as of June 18, 2026. Broader performance shows the stock down 44% over the preceding six-month period. However, the company's strategy reflects a broader corporate trend toward Bitcoin treasury holdings as a means of preserving purchasing power, diversifying balance sheets, and gaining long-term exposure to potential Bitcoin appreciation, a strategy that distinguishes Capital B among smaller treasury companies that have wound down operations or adopted hedging approaches amid market pressure.
The proposal was submitted by Alexandre Laizet, Capital B's board director of Bitcoin strategy, and represents a significant expansion of the company's financial flexibility. Capital B filed the shareholder motion approximately two weeks after completing a 192 BTC acquisition for $15.2 million at an average price of $78,948 per Bitcoin. The company subsequently announced an additional 4 BTC purchase, bringing its total holdings to 3,139 BTC by mid-June 2026. This accumulation strategy positions Capital B among the most substantial corporate Bitcoin holders globally, comparable to or exceeding holdings by competing treasury companies such as Twenty One Capital and Metaplanet.
Capital B's funding structure reflects strong institutional backing. The company has raised approximately $325 million in capital to date, including a $17.8 million strategic investment round backed by prominent figures including Adam Back, CEO of Blockstream, and TOBAM, a Paris-based asset management firm. This investor composition underscores confidence in the company's treasury strategy despite volatile near-term equity performance.
The equity market has reacted negatively to the announcement, with Capital B's share price declining 7% immediately following disclosure and trading at $0.56 as of June 18, 2026. Broader performance shows the stock down 44% over the preceding six-month period. However, the company's strategy reflects a broader corporate trend toward Bitcoin treasury holdings as a means of preserving purchasing power, diversifying balance sheets, and gaining long-term exposure to potential Bitcoin appreciation, a strategy that distinguishes Capital B among smaller treasury companies that have wound down operations or adopted hedging approaches amid market pressure.
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