Capital B secures $120B funding to expand its bitcoin treasury strategy

Capital B has secured shareholder approval to raise up to $120 billion through equity and debt. The French bitcoin treasury firm also formalised its rebranding from The Blockchain Group to Capital B during the vote. The approval allows Capital B to issue up to $5.75 billion in new shares. It can also raise up to $115 billion through debt instruments. These funds will be used to expand the company’s bitcoin holdings on its balance sheet.

A full use of the authorised capital increase and debt would dilute existing shareholders to about 0.24% of ownership. The company stated the financing provides flexibility to access capital markets as it grows its bitcoin treasury strategy.

Capital B currently holds 3,139 bitcoin, making it Europe’s second-largest corporate holder of the cryptocurrency. The firm aims to speed up its bitcoin accumulation with the newly approved capital. The shareholder vote marks a major step in Capital B’s strategy to build its bitcoin reserves. The company now has the financial tools to significantly increase its holdings. This move also confirms its new identity under the Capital B name.