Capital B seeks €5B equity and $116B credit to buy Bitcoin

Capital B, listed in France, has asked shareholders to authorize up to €5 billion in new equity and $116 billion in credit instruments to scale its Bitcoin purchases. The company submitted the request to its board and set an online vote that remains open until its combined general meeting on June 17. The proposal would allow a capital increase by creating as many as 125 billion shares at current nominal value and the establishment of the credit facility.

Two weeks before filing the proposal, Capital B bought 192 BTC for $15.2 million at an average price near $78,948 per coin. The company later disclosed a separate purchase of 4 BTC, bringing its total holdings to 3,139 BTC. Capital B has said it has raised about $325 million in capital to date, including a $17.8 million advance from strategic investors including Adam Back and the Paris-based asset manager TOBAM.

After the capital and credit request became public, Capital B’s share price dropped about 7% to around $0.56. The stock has fallen roughly 44% over the past six months, while Bitcoin’s price has declined about 19.4% over the same period.

Public treasury listings place Capital B as the 25th-largest corporate Bitcoin holder worldwide and the second-largest in Europe, after Germany’s Bitcoin Group SE, which holds about 3,605 BTC. Other listed firms have recently adjusted their strategies: one announced it would end its digital-asset treasury program and monetize remaining BTC holdings, another sold 32 BTC to fund a preferred-stock distribution, and a third described an actively managed derivatives program after reporting prior sales of several hundred bitcoins.

In a post on X, Alexandre Laizet, Capital B’s board director of Bitcoin Strategy, wrote: “Our intention is to secure the capacity to continue growing corporate Bitcoin holdings through both equity and credit facilities.”

If shareholders approve the delegations at the June 17 meeting, the board would have authority to raise new capital and draw on the credit facility for future Bitcoin acquisitions. The company opened the online vote ahead of the meeting to let shareholders register their decisions in advance.