Bitcoin · France · U.S. Treasury · Bitcoin Magazine
Capital B Raises €7.6 million From Adam Back to Fund Another Bitcoin Buy
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The French company's announcement comes after a bitcoin fundraiser last month.
Key facts
- NYSE-listed AI-powered education company Genius Group last week said it was aiming to build parallel AI and bitcoin treasuries worth a combined $1.6 billion, after the company sold its entire bitcoin
- Capital B is the 26th biggest publicly traded bitcoin treasury in the world, according to Bitcoin Treasuries, with a total of 3,145 bitcoins in its coffers, worth $242 million at today’s bitcoin
- Top bitcoiner Adam Back has invested €7.6 million ($8.8 million) in Capital B, the Euronext Growth-listed company that bills itself as Europe’s first bitcoin treasury company
- Capital B’s announcement comes after the company last week said it had raised €21 million ($24 million) in a private placement backed by Blockstream’s Adam Back and asset manager TOBAM
Summary
Top bitcoiner Adam Back has invested €7.6 million ($8.8 million) in Capital B, the Euronext Growth-listed company that bills itself as Europe’s first bitcoin treasury company. The company said Wednesday that the investment will be used to buy more bitcoin. Capital B’s announcement comes after the company last week said it had raised €21 million ($24 million) in a private placement backed by Blockstream’s Adam Back and asset manager TOBAM. “The proceeds of the Private Placement will be used primarily to strengthen Capital B’s balance sheet through the accumulation of bitcoin as a long-term reserve asset,” the company said in a statement. “This capital increase is a key step in implementing the company’s Bitcoin Treasury Company strategy, focused on increasing the number of bitcoin per share on a fully diluted basis over time.”