Capital B Raises 13.3M to Go Full MicroStrategy — à la Française 🇫�*

Paris-listed Capital B just loaded up its war chest to stack more Bitcoin — and it's playing the long game with a bold treasury play.

🧠 Quick Hits

• 💰 13.3M raised via shares + convertible bonds
• 💼 TOBAM BITCOIN ALPHA FUND subscribed 100%
• 📦 160 BTC could be added to the treasury
• 🧊 Target: 2,173 BTC in corporate reserves
• 📈 Strategy: Maximize Bitcoin per share, dilution be damned

🥖 MicroStrategy Has a European Cousin Now

Capital B, a Paris-listed arm of The Blockchain Group, is putting its chips on the table — and those chips are Bitcoin.

With a fresh 13.3M in capital raised through two financial maneuvers, the company’s aiming to deepen its bet on BTC as a core treasury asset.

• €5M capital increase at €2.90/share
• €6.5M in convertible bonds at €3.66/share
• Both deals fully subscribed by TOBAM BITCOIN ALPHA FUND

That haul gives Capital B enough firepower to scoop up 160 BTC at current prices, pushing its total holdings past 2,170 BTC.

Their core message? “We’re not just holding Bitcoin — we’re optimizing for Bitcoin per share.” Every raise, every share, every bond is designed to juice exposure without diluting the BTC punch.

🧠 Why This Matters

Capital B is signaling a shift in how public companies play the BTC game — especially in Europe.

In the U.S., MicroStrategy pioneered the “balance sheet as a BTC vault” model. Now, companies across the Atlantic are adapting that strategy to Euronext and beyond.

Bitcoin isn’t just a speculative asset anymore — it’s becoming a corporate currency hedge.

• 🏦 Acts as a non-sovereign store of value
• 📉 Hedge against inflation and fiat depreciation
• 🧾 Exposure for shareholders without them needing wallets or seed phrases

For institutional investors like TOBAM, this isn’t just conviction — it’s calculated leverage on BTC price upside.

📊 Market Context: Europe’s Bitcoin Wave

Bitcoin is holding above 65,000 as of August 2025, buoyed by:

• Spot ETF inflows in the U.S.
• Signs of Fed rate cuts ahead
• Renewed institutional appetite

Corporate treasury moves are picking up speed — and Europe’s catching up fast.

Capital B's move could inspire similar treasury strategies from other Euronext or Deutsche Börse-listed firms, especially as fiat returns struggle to beat even mild inflation.

💬 Voices from the Capital Stack

“Our strategy is to maximize Bitcoin per share over time, making our equity a proxy for BTC exposure.” — Capital B statement

TOBAM didn’t comment, but their single-fund, high-conviction ethos fits the play. Market analysts say this is a long-volatility bet on Bitcoin, not a short-term pump.

And with convertible bonds in the mix, Capital B can reload without losing that BTC/share efficiency.

🔮 What’s Next?

If the BTC buys go through, Capital B could become Europe’s biggest publicly traded Bitcoin treasury.

Future outlooks could include:

• BTC-backed equity products
• Tokenized shares
• Crypto-native investor outreach
• Even Euro-Bitcoin ETFs with a treasury backing

Whatever happens next, one thing is clear: This isn’t a cash grab. It’s a Bitcoin bet — and it’s happening on Euronext.

TL;DR

Capital B has raised 13.3M through a capital increase and convertible bonds — all fully subscribed by TOBAM — to buy up to 160 more BTC. That would boost its treasury to 2,173 BTC and push its “Bitcoin per share” strategy deeper. It's a bold move for a Paris-listed firm, showing that Europe is catching on to the corporate Bitcoin playbook pioneered by MicroStrategy.