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Capital B invests €7.6M from Adam Back to add more bitcoin
The Euronext Growth-listed bitcoin treasury plans to buy 376 more bitcoins, raising its potential holdings to 3,521 coins.
Capital B, a French company listed on Euronext Growth that describes itself as Europe’s first bitcoin treasury firm, said Adam Back invested €7.6 million, or $8.8 million, to help fund another bitcoin purchase.
According to Bitcoin Magazine, the company plans to use the investment to buy more bitcoin, aiming to strengthen its balance sheet by accumulating the asset as a long-term reserve.
Capital B also said last week it raised €21 million, backed by Back and asset manager TOBAM, and that the proceeds would primarily support additional bitcoin buying.
The company said it expects the latest plan to fund purchases of 376 additional bitcoins, taking potential holdings to 3,521 coins from 3,145, which Bitcoin Treasuries values at about $242 million at a reported bitcoin price of $76,959.
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