Capital B Secures €2.2M From Adam Back to Advance Bitcoin Strategy

Capital B, listed on Euronext Growth Paris, has secured €2.2 million. The capital increase is through an investment from Adam Back, CEO of Blockstream and one of Bitcoin’s earliest pioneers. The move reinforces the company’s strategy of positioning itself as Europe’s first Bitcoin Treasury Company. The capital increase was finalized at €2.24 per share, with Back subscribing to one million new ordinary shares. 

The transaction gives Capital B additional flexibility to expand its holdings, potentially adding around 17 more Bitcoins to its treasury. This would bring the company’s total reserves to an estimated 2,218 BTC. The investment underscores growing institutional confidence in Bitcoin as a long-term reserve asset. While also strengthening Capital B’s credibility in the European financial markets.

Strengthening the Bitcoin Treasury Model

Capital B has built its corporate identity around the idea of a Bitcoin Treasury Company. Its model centers on increasing the number of Bitcoin held per share over time. It gives investors exposure not just to the company’s operating businesses but also to its growing digital asset reserves. The strategy, according to the company, is designed to align shareholder value with Bitcoin’s long-term trajectory. By tying part of its balance sheet directly to Bitcoin, Capital B hopes to differentiate itself from traditional tech and consulting firms in Europe.

Adam Back’s involvement gives the project added weight. Often regarded as a central figure in Bitcoin’s early development. Back brings both financial backing and industry credibility. His stake also strengthens the company’s visibility among global Bitcoin-focused investors.

Conversion by Fulgur Ventures

In parallel with the investment, Capital B confirmed the final conversion of 4.76 million OCA B-01 bonds held by Fulgur Ventures. The conversion results in the issuance of 8.75 million new ordinary shares at a price of €0.54 per share. The move increases Fulgur’s position in the company while simplifying Capital B’s balance sheet by reducing outstanding debt. Company officials highlighted the conversion as another step toward stabilizing its capital structure and aligning shareholder interests.

Outlook for Growth

Following these transactions, Adam Back now holds over 20% of Capital B’s share capital, making him one of its largest stakeholders. The broader shareholder base continues to include investors such as TOBAM and Peak Hodl, alongside institutional and retail participants. For Capital B, the next phase will focus on reinforcing its role as a Bitcoin-focused corporate entity. By combining treasury expansion with its subsidiaries in AI and blockchain consulting, the company aims to bridge traditional business models with the Bitcoin economy. Fresh capital secured and stronger backing from one of Bitcoin’s most influential figures. Capital B is positioning itself for growth in an increasingly competitive digital asset landscape.