# Capital B Acquires 376 Bitcoin in Largest 2026 Purchase

**Published:** 2026-09-09T08:23:13.942Z  
**Topic:** Microstrategy Bitcoin  
**Sentiment:** neutral  
**Publisher:** TrendWatcher — https://www.trendwatcher.in/article/49f2ccf6-8a37-460b-84be-f0cd1974edde

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 |

## Funding the accumulation
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].

## Competitive positioning
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].

## What to watch
* **Treasury Gap:** Monitor whether Capital B closes the 84 BTC gap to overtake Bitcoin Group SE as Europe’s largest public Bitcoin treasury [1].
* **Warrant Activity:** Watch for the impact of the 10-for-1 reverse split scheduled for September 8, which will rescale the warrant ratios [3].
* **Market Performance:** Observe if the company’s "Bitcoin Yield"—the change in Bitcoin per share—improves following the latest dilution from the share issuance [1, 2].

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].

## Sources
1. Crypto Briefing — [Capital B acquires 376 BTC for €25.3 million, total holdings reach 3,521 BTC](https://cryptobriefing.com/capital-b-acquires-376-btc-treasury/)
2. Bitcoin Magazine — [Capital B Raises €7.6M From Adam Back to Fund Another Bitcoin Buy](https://bitcoinmagazine.com/news/capital-b-raises-money-adam-back)
3. BeInCrypto — [Adam Back Puts €7.6 Million Into Capital B to Buy More Bitcoin](https://beincrypto.com/capital-b-bitcoin-treasury-adam-back/)
4. Bitcoinmagazine — [Capital B Buys 376 Bitcoins in Its Biggest Purchase of 2026](https://bitcoinmagazine.com/news/capital-b-makes-biggest-2026-buy)
5. Bitcointreasuries — [Capital B Buys 376 Bitcoin in Largest Purchase This Year](https://bitcointreasuries.net/news/capital-b-buys-376-bitcoin-in-largest-purchase-this-year)

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Cite as: TrendWatcher, "Capital B Acquires 376 Bitcoin in Largest 2026 Purchase", https://www.trendwatcher.in/article/49f2ccf6-8a37-460b-84be-f0cd1974edde