France-based Bitcoin treasury company Capital B has secured 1.1 million euros (approximately $1.28 million) in a new investment round featuring Adam Back, the CEO of Blockstream and well-known cryptographer. Capital B announced on Monday that Back purchased 10 million subscription warrants at a unit price of $0.13. These warrants will allow Back to buy future company shares at an exercise price of $0.98, matching a net asset value of 1.1 euros per share.
Adam Back strengthens strategic stake
Adam Back is now among Capital B’s largest strategic investors. His total stake in the company has surpassed 39.5 million shares, increasing his indirect ownership to 9.97 percent of all shares. Back is renowned for inventing Hashcash, a proof-of-work system foundational to Bitcoin, and remains a prominent figure in the world of digital currencies.
Back’s continued backing enhances confidence in Capital B. Just last month, Back was involved in another fundraising round, helping the company raise $794,000 through the UK-based Connecting Excellence Group (XCE).
Investment boosts share prices
Capital B plans to use the newly acquired funds to accelerate its Bitcoin acquisition strategy. Following the investment announcement, Capital B’s shares jumped by over 6.5 percent on Monday. However, despite this uptick, shares have still fallen by more than 16 percent since the start of the year. Currently, the firm holds 2,943 Bitcoin, valued at roughly $234 million based on data from Bitcointreasuries.net.
Capital B emphasized its intention to accelerate its Bitcoin portfolio growth strategy, made possible by investor support. According to the company, this move has been well received by investors.
Ranked as the world’s 25th largest Bitcoin treasury, Capital B’s on-balance-sheet BTC holdings and market value continue to fluctuate in line with broader market trends.
Market risk and diverse strategies
Companies active in the Bitcoin market employ a variety of risk management approaches to cope with market volatility. Some seek to raise new capital, while others prefer to protect their portfolios by selling assets or using derivatives. Last month, Nasdaq-listed treasury firm Nakamoto launched an actively managed Bitcoin derivatives program aimed at generating income from volatility and safeguarding assets against potential losses.
Nakamoto sold 284 Bitcoin earlier this year, a transaction disclosed in filings with the U.S. Securities and Exchange Commission at the end of March and valued at around $20 million at the time. Meanwhile, Bitcoin-focused education and software firm Genius Group liquidated its entire treasury of 84 BTC in February, raising about $5.7 million to repay $8.5 million in debt, as recorded in official disclosures.
Recently, aside from Capital B and XCE, no significant new capital increases have occurred among Europe’s Bitcoin treasury firms. These transactions involving Adam Back therefore stand out as some of the rare noteworthy developments in the European segment of the industry.
