Adam Back Puts €7.6 Million Into Capital B to Buy More Bitcoin

Adam Back has put 7.6 million into the Capital B Bitcoin treasury, funding the purchase of 376 more coins. Capital B sits in Puteaux, a business district west of Paris, and trades on Euronext Growth Paris. It priced the new shares at 0.58 apiece. That level sits 15.4% above Tuesdays close. Why the Capital B Bitcoin Treasury Wants 3,521 Coins Net proceeds should reach roughly 7.3 million once fees clear. Together with ongoing operations, that sum could lift holdings to 3,521 BTC. Capital B calls itself Europes first Bitcoin Treasury Company. Its stated goal is more bitcoin per fully diluted share, rather than a bigger raw coin count. Back co-founded Blockstream and now runs the Bitcoin infrastructure firm. The raise arrives with Bitcoin trading near $76,577, down 1.66% in a day. Renewed US strikes near the Strait of Hormuz pushed it below $77,000 on Tuesday. However, Back subscribed above the market price, matching the terms Capital B set on August 28. Meanwhile, larger peers have turned cautious. MicroStrategy ended a 10-week pause only last week. Subscribe to our YouTube channel to watch leaders and journalists provide expert insights Warrants Could Lift Backs Ordinary Stake to 27.8% Each new share arrives with four warrants. Two carry a 0.75 strike, one 0.98, and one 1.27, all maturing in five years. Full exercise would create 52,724,120 shares and raise a further 49.4 million. Backs ordinary stake would then climb from 14.82% to 27.80%. On a fully diluted basis, it reaches 23.36%. Capital B also disclosed the dilution effect. A holder with 1% before the issuance moves to 0.97% on an ordinary basis. That figure falls to 0.85% if every new warrant converts. Capital B can also force the pace. It may open an accelerated exercise window whenever the 20-day average price beats 130% of a tranche strike. A 10-for-1 reverse split lands September 8 and will rescale every warrant ratio. The placement closes September 3 at the earliest. Other treasury companies are tapping markets on similar terms. A Solana vehicle priced a preferred stock offering last week. Capital Bs next disclosure should show whether the 376 coins actually landed.