Capital B, a European Bitcoin treasury company listed on Euronext Growth Paris, has announced a capital increase of approximately $2.57 million (€2.2 million). The investment was fully subscribed by Adam Back, renowned cryptographer and founder of Blockstream.
This funding round is expected to strengthen Capital B’s position as one of Europe’s leading publicly listed Bitcoin treasury companies, with the fresh capital directly fueling its BTC acquisition strategy.
Impact on Bitcoin Holdings
The company revealed that the infusion will enable the purchase of around 17 additional BTC, potentially raising its total reserves to 2,218 BTC.
By steadily increasing its holdings, Capital B continues its mission to maximize Bitcoin per share on a fully diluted basis—an approach designed to attract investors seeking exposure to digital assets through regulated equity markets.
OCA Conversion by Fulgur Ventures
Alongside the capital increase, Capital B confirmed the final conversion of 4,760,000 OCA B-01 instruments held by Fulgur Ventures into 8,750,000 ordinary shares.
This conversion strengthens Capital B’s equity structure and supports its strategy of expanding Bitcoin holdings per share while maintaining long-term shareholder value.
Adam Back’s Expanding Role in Bitcoin Treasury Companies
Adam Back, a pioneer in cryptography and one of the earliest contributors to Bitcoin discussions, has become increasingly active in supporting Bitcoin treasury-focused firms.
In recent months, Back has provided substantial funding to companies such as:
- H100
- BSTR
- Capital B
By backing these firms, he reinforces the institutional case for Bitcoin as a treasury reserve asset, aligning with the broader narrative of corporate BTC adoption.
Strategic Importance of the Investment
- For Capital B: The new capital enhances its ability to accumulate BTC and strengthens its position among Europe’s listed Bitcoin treasuries.
- For Investors: The investment provides regulated exposure to Bitcoin’s upside potential through equity markets.
- For the Market: Adam Back’s direct involvement signals growing institutional and thought-leader support for Bitcoin as a strategic asset class.
Market Outlook
The announcement comes as Bitcoin trades near record highs in 2025, reinforcing its position as the world’s leading digital asset. With institutional demand rising and treasury strategies gaining traction, companies like Capital B are expected to play a central role in bridging traditional finance with Bitcoin adoption.
Capital B’s successful $2.57 million capital increase, fully backed by Adam Back, underscores the growing confidence in Bitcoin treasury models. By expanding its reserves to more than 2,200 BTC, the company not only strengthens its balance sheet but also offers investors a regulated pathway to Bitcoin exposure.
As Adam Back continues to support Bitcoin treasury companies, the move highlights the increasing institutional focus on BTC as a core reserve asset in the global financial landscape.