French listed company Capital B (ALCPB) is seeking shareholder approval for a massive fundraising plan aimed at accumulating Bitcoin. The proposal includes raising up to $5.82 billion by issuing new shares and up to $116.4 billion through credit instruments, potentially exceeding $120 billion in total. All proceeds would be exclusively used to increase the company's Bitcoin position.
If approved, the financing would set a new record for a public company using capital markets to purchase Bitcoin. Previous high-profile corporate Bitcoin buyers, such as MicroStrategy and Tesla, raised tens of billions of dollars via convertible bonds and stock sales, but none approach the scale of Capital B's planned fundraising. Credit facilities typically involve bank loans or bond issuances that require strong creditworthiness, indicating market confidence in the company's ability to service such large debt.
As more publicly traded firms add Bitcoin to their balance sheets, Capital B's move further diversifies the roster of corporate Bitcoin holders. With persistent global inflation and geopolitical uncertainties, Bitcoin's appeal as a non-sovereign store of value continues to grow, attracting traditional enterprises. The proposed financing underscores the increasing normalization of Bitcoin as a treasury asset among listed companies worldwide.