U.S. Treasury · Bitcoinist
Bitcoin Treasury Race Heats Up As Capital B Picks up $18 Million
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Europe’s second-largest Bitcoin treasury company got a significant cash injection.
Key facts
- Capital B currently holds 2,943 BTC, valued at approximately $237 million
- If all of those warrants are exercised, Capital B could pull in an additional $116.5 million through the issuance of about 92 million new shares, according to board director of Bitcoin strategy
- Strategy, the company led by Michael Saylor, raised $2.5 billion in late April through stock and preferred share sales
- Capital B shares climbed about 4.25% on Monday following the news, trading near 0.67 euros
Summary
The real number to watch, though, may be much larger. The company said the fresh capital, combined with revenue from its ongoing operations, could allow it to purchase around 182 more Bitcoin. Adam Back’s involvement raised eyebrows. Capital B currently holds 2,943 BTC, valued at approximately $237 million. The timing of the raise sets Capital B apart from much of the rest of the corporate Bitcoin sector.