France-based, publicly traded Bitcoin treasury company Capital B has made headlines by requesting sweeping new authority from its shareholders in a bid to ramp up its Bitcoin acquisitions. The company has proposed enabling fresh fundraising through both a new share issuance and debt instruments, placing this plan on the agenda for its upcoming general assembly.
A larger mandate from shareholders
According to information shared Monday on X by Alexandre Laizet, Capital B’s Director of Bitcoin Strategy and Board member, the proposal includes a capital increase of up to 5 billion euros via as many as 125 billion new shares at nominal value and the creation of an additional 116 billion dollars’ worth of debt facilities. Shareholders have until the joint general meeting on June 17 to vote online on the matter.
Capital B’s management explained that the requested authority for new capital and debt facilities has been prepared in order to accelerate its pace of Bitcoin accumulation.
Within the volatile world of corporate Bitcoin holdings, Capital B stands out as one of the most active players. While some smaller firms have recently reduced their positions or shifted toward more defensive asset-management strategies, Capital B has continued to buy at a steady clip.
Bitcoin reserves climb to 3,139 BTC
The vote for expanded authority follows Capital B’s recent purchase, just two weeks ago, of 192 BTC for $15.2 million. The average purchase price during that transaction was reported as $78,948 per Bitcoin, bringing the company’s total holdings to 3,135 BTC at that time. On Monday, Capital B disclosed the acquisition of an additional 4 BTC, raising its reserves to a total of 3,139 BTC.
To date, the company reports having raised approximately $325 million in capital. This figure includes a $17.8 million injection from strategic investors such as Adam Back, CEO of Blockstream, and the Paris-based asset management firm TOBAM.
After the announcement, Capital B shares retreated by about 7 percent, trading at $0.56 as of 10:17 UTC. According to Yahoo Finance, the company’s stock has posted a 44 percent loss over the past six months, while the price of Bitcoin itself is down more than 19.4 percent in the same timeframe.
Ongoing pressure in the sector
Based on data from BitcoinTreasuries, Capital B currently ranks as the twenty-fifth largest company worldwide in terms of Bitcoin holdings. Among European firms, it trails only Germany’s Bitcoin Group SE, which owns 3,605 BTC.
Capital B’s drive for more aggressive expansion comes at a time when sector-wide pressures remain acute. French semiconductor company Sequans Communications recently announced it was ending its digital asset treasury strategy to focus solely on the Internet of Things semiconductor market. When Sequans made this decision, it was holding roughly 658 Bitcoins, valued at around $48 million. As the company transitions away from crypto, its shares jumped about 14.5 percent in early trading.
On Monday, Michael Saylor’s company, Strategy, revealed it had sold 32 BTC to finance a preferred stock distribution. This was the company’s first reported Bitcoin sale since a tax-related transaction in 2022. Similarly, as of April 24, Nasdaq-listed Nakamoto launched a managed Bitcoin derivatives program designed to generate regular income and hedge some of its corporate BTC holdings against downside risk. According to its March 30 update, Nakamoto sold 284 Bitcoin.
