Capital B, a Paris-listed Bitcoin treasury firm, has increased its Bitcoin exposure following a series of equity conversions and fresh capital inflows involving major crypto-focused investors.
The company confirmed the conversion of over 19.9 million OCA B-01 bonds into 36.6 million new shares, primarily by Blockstream Capital Partners and UTXO Management. The move was accompanied by additional equity subscriptions totalling approximately €2.85 million, reinforcing Capital B’s balance sheet as it scales its Bitcoin accumulation strategy.
🟠 Capital B confirms the acquisition of 37 BTC for €2.3 million, the holding of a total of 2,925 BTC, and a BTC Yield of 1.25% YTD ⚡️
Full Press Release (EN): https://t.co/oMNmZkFTyD
Full Press Release (FR): https://t.co/YVpywkZh4B
BTC Strategy (EN): https://t.co/4CuCwz23bW pic.twitter.com/7eJir3JYd7
— Capital B (@_ALCPB) April 13, 2026
About 1.78 million Bitcoin (~8.5% of supply) is held by institutions, governments, and companies, showing strong concentration among large players. Top holders include Satoshi Nakamoto (~1.1M BTC), Strategy (~766K BTC), Binance (~612K BTC), and governments like China and the United States. Overall, the top 1% of wallets control over 90% of the Bitcoin supply.
Equity moves strengthen bitcoin strategy
The capital restructuring included Blockstream subscribing to 4.7 million shares and UTXO Management adding over 530,000 shares, both priced at €0.544 per share. Additionally, the exercise of warrants led to the issuance of 637,816 new shares before their expiration on April 10.
These combined transactions enabled Capital B to acquire 37 BTC for €2.3 million, continuing its aggressive treasury expansion model. The firm now holds a total of 2,925 BTC, acquired at an average price of €92,096 per coin, with a cumulative investment of €269.4 million.
Performance metrics signal steady growth
Capital B reported a year-to-date BTC yield of 1.25%, alongside a net gain of 35.3 BTC. On a quarterly basis, the company posted a 0.53% yield, reflecting a gain of 15.2 BTC.
The firm’s treasury strategy focuses on increasing Bitcoin per share over time, using capital markets activity to fund acquisitions rather than relying solely on operational revenue. This approach mirrors a growing trend among publicly listed firms positioning Bitcoin as a core reserve asset.
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