Capital B acquires 376 BTC for $29M, largest purchase in a year
In brief
- Capital B acquired 376 BTC for €25.3 million ($29.4 million) on Monday
- The purchase marks the firm's largest bitcoin acquisition in a year
- Total bitcoin holdings now stand at 3,521 BTC
- Acquisition funded by recent capital raises including €28.7 million private placement
Funding and Purchase Details
The bitcoin purchase was funded by proceeds from recently completed capital raises, including a €28.7 million ($33.3 million) private placement. The average purchase price per bitcoin was €87,878 ($102,058). Capital B had bought just 6 BTC in the month prior to this announcement, making this acquisition a sharp acceleration in accumulation pace.
Adam Back made an additional €7.6 million ($8.8 million) investment in Capital B, lifting his stake to 17.64% on an ordinary basis. The investment underscores continued backing from major figures in the bitcoin ecosystem.
Strategic Positioning
Originally known as The Blockchain Group, Capital B rebranded in July 2025 to focus on its bitcoin treasury strategy. The firm has been positioning itself as a bitcoin-focused treasury manager in Europe. In June, Capital B said it was exploring a bitcoin-backed credit product for the European market, modeled after similar offerings from Strategy and Strive.
The timing of this purchase comes as bitcoin has shown volatility in recent days. Bitcoin traded at around $79,500 on Monday, after reaching a local high of around $81,700 last Thursday before retreating. Capital B's sustained accumulation strategy reflects confidence in longer-term bitcoin valuations despite near-term price swings.
