Capital B is seeking shareholder approval for a major financing mandate designed to accelerate its Bitcoin accumulation strategy. According to information shared on X by Alexandre Laizet, the company’s Director of Bitcoin Strategy and board member, the proposal includes a capital increase of up to €5 billion through as many as 125 billion new shares issued at nominal value, alongside the creation of an additional $116 billion in debt facilities. Shareholders can vote online on the plan ahead of the joint general meeting scheduled for June 17.
A larger financing push for Bitcoin accumulation
Management said the requested authorization for new equity and debt instruments was prepared specifically to speed up the company’s pace of Bitcoin purchases. In the corporate Bitcoin treasury space, Capital B has remained one of the more active buyers, even as some smaller firms have reduced exposure or shifted toward more defensive treasury management models.
The expanded mandate follows recent buying activity. Just two weeks earlier, Capital B purchased 192 BTC for $15.2 million, with an average acquisition price of $78,948 per Bitcoin. That transaction brought its holdings to 3,135 BTC at the time. On Monday, the company disclosed another purchase of 4 BTC, lifting its total reserve to 3,139 BTC.
Capital raised, but stock remains under pressure
So far, the company says it has raised roughly $325 million in capital. That figure includes a $17.8 million injection from strategic investors, among them Blockstream CEO Adam Back and Paris-based asset manager TOBAM. The fundraising has helped support Capital B’s continued Bitcoin treasury expansion.
Still, the market reaction to the latest announcement was negative in the short term. After the news, Capital B shares fell about 7%, trading at $0.56 as of 10:17 UTC. Yahoo Finance data shows the stock has lost around 44% over the past six months, while Bitcoin itself has declined by more than 19.4% over the same period.
Corporate Bitcoin strategies are diverging
Data from BitcoinTreasuries places Capital B as the 25th-largest corporate Bitcoin holder globally. Among European companies, it trails only Germany’s Bitcoin Group SE, which holds 3,605 BTC. The ranking highlights Capital B’s growing weight in Europe’s listed-company Bitcoin landscape.
At the same time, pressure across the sector remains visible. French semiconductor company Sequans Communications recently said it would end its digital asset treasury strategy and refocus on its Internet of Things semiconductor business. At the time of that decision, Sequans held roughly 658 BTC, worth around $48 million, and its shares rose about 14.5% in early trading after the shift. Elsewhere, Michael Saylor’s Strategy disclosed on Monday that it sold 32 BTC to finance a preferred stock distribution, marking its first reported Bitcoin sale since a tax-related transaction in 2022. Nasdaq-listed Nakamoto also launched a managed Bitcoin derivatives program as of April 24 to generate recurring income and hedge downside risk on part of its holdings; according to its March 30 update, the company had sold 284 BTC.
Against that backdrop, Capital B’s decision to pursue broader financing authority signals a clear commitment to keep building its Bitcoin position despite market volatility and growing scrutiny of leveraged corporate treasury models. Whether investors reward that approach may depend on both Bitcoin’s price trajectory and the market’s tolerance for balance-sheet risk.