{"id":31965,"date":"2026-08-28T20:01:34","date_gmt":"2026-08-28T19:01:34","guid":{"rendered":"https:\/\/investx.fr\/en\/2026\/08\/28\/capital-b-raises-21m-adam-back-tobam-bitcoin\/"},"modified":"2026-08-28T20:01:40","modified_gmt":"2026-08-28T19:01:40","slug":"capital-b-raises-21m-adam-back-tobam-bitcoin","status":"publish","type":"post","link":"https:\/\/investx.fr\/en\/crypto-news\/capital-b-raises-21m-adam-back-tobam-bitcoin\/","title":{"rendered":"Capital B Raises \u20ac21M From Adam Back and TOBAM to Buy 270 More Bitcoin"},"content":{"rendered":"\n

Europe’s first publicly listed bitcoin treasury company has just closed a \u20ac21 million fundraise<\/strong> backed by two heavyweights: Adam Back<\/strong>, CEO of Blockstream<\/strong>, and asset manager TOBAM<\/strong>.<\/p>\n\n\n\n

The private placement would allow the firm to acquire approximately 270 additional bitcoins<\/strong> and strengthen its position in a sector that has been under pressure since 2025.<\/p>\n\n\n\n

Behind the deal lies an aggressive accumulation strategy<\/strong> that stands in sharp contrast to the difficulties faced by other corporate treasuries \u2014 and sends a powerful signal to the European market.<\/p>\n\n\n\n

A 36 Million Share Private Placement to Accelerate Accumulation<\/h2>\n\n\n\n

Capital B<\/strong>, listed on Euronext Growth<\/strong>, announced on Friday the issuance of 36,219,070 shares at \u20ac0.58 per unit<\/strong>, representing a 6.45% discount to the closing price from the previous Wednesday. After deducting fees and transaction costs, the expected net proceeds amount to approximately \u20ac19.9 million<\/strong>.<\/p>\n\n\n\n

The two investors leading this round are far from ordinary names. Adam Back<\/strong> is one of the most respected figures in the Bitcoin<\/strong> ecosystem \u2014 a first-generation cypherpunk<\/strong>, inventor of Hashcash<\/strong>, and cited directly in Satoshi Nakamoto’s whitepaper<\/strong>. TOBAM<\/strong>, for its part, is a French institutional asset manager<\/strong> known for its anti-benchmark investment strategies, which has incorporated bitcoin<\/a> into its investment universe for several years. Their presence on the cap table sends a strong credibility signal to the markets.<\/p>\n\n\n\n

With this fresh capital, Capital B<\/strong> is targeting a total stack of 3,415 BTC<\/strong>, up from 3,145 currently. At a spot price of $77,960 per bitcoin<\/strong> at the time of the announcement, the company’s total treasury represents approximately $245 million<\/strong>. This places the firm at 27th in the global ranking<\/strong> of publicly listed bitcoin treasuries, according to the Bitcoin Treasuries<\/strong> tracker.<\/p>\n\n\n\n

\"Capital<\/figure>\n\n\n\n

A European Bitcoin Treasury Strategy Navigating Market Headwinds<\/h2>\n\n\n\n

Capital B<\/strong> built the bulk of its BTC position during the first half of 2026 through a series of successive funding rounds. In May, the company acquired 192 bitcoins for \u20ac13 million<\/strong> after closing three consecutive capital raises. The logic is clear: seize every market window to accumulate, in the mold of a European-style strategy<\/strong> \u2014 formerly the playbook of MicroStrategy<\/a>.<\/p>\n\n\n\n

Yet the broader sector environment remains strained. Since 2025, the correction in bitcoin’s price has put significant pressure on numerous corporate treasuries<\/strong>, forcing some to liquidate their positions. MicroStrategy<\/strong> itself, the world’s largest institutional bitcoin holder, has not been spared. Just this week, Genius Group<\/strong> \u2014 an AI-powered education company listed on the NYSE<\/strong> \u2014 announced it had sold its entire bitcoin reserves to repay $8.5 million in debt<\/strong>, before signaling its intention to rebuild parallel BTC and AI treasuries totaling $1.6 billion.<\/p>\n\n\n\n

Against this backdrop, Capital B<\/strong>‘s ability to raise \u20ac21 million from top-tier investors \u2014 and to do so at a moment when others are selling \u2014 reflects a deliberate and confident strategic conviction. The company is positioning itself as the go-to bitcoin exposure vehicle<\/strong> for European institutional investors seeking an alternative to ETFs<\/strong> or direct custody, with the liquidity of a stock listed on Euronext Growth<\/strong>. This contrasts with recent market dynamics where major players are reassessing their digital asset strategies<\/a>.<\/p>\n\n\n\n

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