Capital B has raised fresh funds through a mix of private placements, ATM-style share sales, and warrant deals. The capital was backed by institutional investors, including Adam Back and TOBAM.
🟠 Capital B confirms the acquisition of 192 BTC for €13.0 million, the holding of a total of 3,135 BTC, and a BTC Yield of 1.82% YTD ⚡️
Full Press Release (EN): https://t.co/ZFaMVOg9tk
Full Press Release (FR): https://t.co/cMZHpDK3kw
BTC Strategy (EN):… pic.twitter.com/g2KKdJZT0l
— Capital B (@_ALCPB) May 18, 2026
The company used part of the proceeds to buy 192 BTC worth about €13 million. It now holds 3,135 BTC in total, with an average purchase price of €90,451 per coin. The funding structure shows a clear pattern: equity is being repeatedly converted into Bitcoin exposure.
Bitcoin per share is becoming the core metric
Instead of focusing on revenue or profit, Capital B is tracking how much Bitcoin each share represents. It reported a “BTC Yield” of 1.82% since the start of the year, showing growth in Bitcoin per share on a diluted basis.
This approach puts Bitcoin at the center of company performance. Share value is not only about stock price moves anymore. It is also about how much Bitcoin backing each share increases over time.
The model closely follows the approach used by Strategy, but Capital B is applying it in a smaller European market where institutional Bitcoin treasury models are still developing.
Is Bitcoin exposure being packaged as equity strategy?
From a market view, this move shows a move in how Bitcoin exposure is being delivered to investors. Instead of buying BTC directly, investors are now getting exposure through listed companies that actively grow their Bitcoin holdings.
This structure creates a new layer between traditional markets and crypto. Investors are not just betting on Bitcoin price anymore. They are also betting on how well a company can raise capital, time purchases, and grow BTC per share.
The key risk is that this model depends heavily on continuous funding and favorable market conditions. If capital raising slows or Bitcoin weakens for a long period, the strategy can lose momentum quickly.
Meanwhile, the organization raised €1.1 million ($1.28 million) through a warrant issuance backed by Adam Back, reinforcing investor confidence in its long-term Bitcoin accumulation strategy.
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