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Capital B added 376 BTC to its treasury, bringing total holdings to 3,521 coins. The €25.3 million purchase follows a major investment from Adam Back.
Capital B has acquired 376 Bitcoin for €25.3 million, marking the firm’s largest single purchase of 2026 and bringing its total treasury to 3,521 BTC [5]. The move accelerates the company’s strategy to accumulate 1% of Bitcoin’s total supply by 2033, positioning it as a primary competitor to Europe’s largest public Bitcoin treasury, Bitcoin Group SE [1, 4].
| At a glance | |
|---|---|
| New BTC Added | 376 BTC |
| Total Holdings | 3,521 BTC |
| Purchase Cost | €25.3 million |
| Average Buy Price | €67,182 per coin |
The acquisition was fueled by a €28.7 million private placement of shares, which included a €7.6 million investment from Blockstream CEO Adam Back [5]. The shares were priced at €0.58, a level that represented a 15.4% premium over the company’s closing price on the day prior to the announcement [3]. This capital raise, which also saw participation from institutional investor TOBAM, allowed Capital B to acquire the 376 coins at an average cost of €67,182 per unit [1, 5].
This price sits notably below the firm’s previous blended average cost of €87,878 per coin, providing a discount to its existing cost basis [5]. While the company holds 3,521 BTC, it reports an unrealized paper loss of approximately €68.6 million based on the marked-to-market net asset value at the time of the purchase [5]. The firm’s Bitcoin is held in custody by Swissquote Bank Europe [1].
Capital B now ranks as the 25th largest publicly traded Bitcoin treasury globally [4]. It remains within 84 BTC of Bitcoin Group SE, which currently holds 3,605 BTC and leads the European rankings [1]. Unlike some peers that have liquidated holdings following price volatility, Capital B continues to utilize equity issuances to fund its treasury, a model similar to the one employed by the US-based firm Strategy [1, 2].
The company’s capital structure is set for further shifts, as each new share issued in the recent placement includes four warrants maturing in five years [3]. If fully exercised, these warrants could raise an additional €49.4 million and increase Adam Back’s ordinary stake in the company from 14.82% to 27.80% [3].
Whether Capital B can maintain its aggressive accumulation pace depends on its ability to continue raising capital through equity markets while managing the dilution effects on existing shareholders. The firm’s next disclosure will confirm the impact of these capital raises on its long-term objective of holding 210,000 BTC [3, 4].
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AI-assisted synthesis by the TrendWatcher Editorial Desk · sourced from 5 outlets · Sep 9, 2026 · How we report
MicroStrategy held 528,185 Bitcoins as of March 31, 2025. These assets were reported with a digital asset carrying value of $43,546,079.
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