Massive Bitcoin Fundraise
Capital B Shareholders Approve $121 Billion Fundraise to Significantly Expand Bitcoin Holdings
Key Points
Capital B’s fundraising approvals were voted at its Annual Ordinary and Extraordinary General Meeting on June 17, with shareholders backing authorization to issue up to 125 billion new shares and open substantial credit lines. The company disclosed shares could be issued at an approximate nominal value of €0.04 each, implying potential equity growth of around €5 billion, alongside authorization for up to €100 billion in credit instruments tied to further Bitcoin purchases.
Capital B said it currently holds 3,139 BTC and intends to gradually accumulate Bitcoin up to an estimated 1% of total Bitcoin supply by 2033—about 210,000 BTC—framing the fundraising as part of that longer-term accumulation roadmap.
The company also cited recent execution of its Bitcoin treasury strategy, adding 192 BTC in May 2026 via a €15.2 million private placement described as supported by notable figures in the cryptocurrency space.
One report put the scale of the potential purchases into supply terms: at current market prices, the combined capital could acquire over 1.87 million BTC—about 8.9% of a cited 21 million circulating-supply estimate—positioning Capital B among the largest institutional Bitcoin holders and potentially surpassing holdings of major corporate treasuries and some publicly traded funds.
Capital B shareholders voted overwhelmingly on June 17 to approve a financing plan worth up to $121 billion — one of the largest ever authorized by a publicly listed Bitcoin company. The vote passed with more than 95% support, according to Bloomingbit, authorizing €5 billion in new share issuances and €100 billion in credit instruments to buy more Bitcoin.
The Paris-listed firm, formerly known as The Blockchain Group, currently holds 3,139 BTC. It plans to use the new capital to eventually own 1% of all Bitcoin ever mined — around 210,000 BTC — by 2033. At current prices, the full $121 billion authorization could theoretically buy over 1.87 million BTC, or about 8.9% of Bitcoin's total 21 million supply, per Crypto Times.
Shareholders Back Massive Share Dilution for Bitcoin
The approval came at Capital B's Annual General Meeting on June 17. Shareholders backed authorization to issue up to 125 billion new shares at roughly €0.04 each. That would raise about €5 billion in equity. Participation at the meeting represented 54.748% of total voting rights, according to CoinCentral.
Critics have flagged the dilution risk. Capital B currently has only around 300 million shares outstanding. Issuing 125 billion new shares would massively shrink each existing shareholder's stake. The company argues that if Bitcoin rises enough, the value of Bitcoin held per share will outweigh the dilution, per Crypto News.
€100 Billion Debt Plan Mirrors MicroStrategy's Playbook
The bulk of the plan — €100 billion — comes through credit instruments, not equity. Capital B wants to borrow money at low rates and use it to buy Bitcoin. This mirrors the strategy pioneered by US firm MicroStrategy, which turned its listed stock into a vehicle for leveraged Bitcoin exposure, according to Crypto.news.
Board Director Alexandre Laizet has been the lead architect of this approach. He presented the strategy at the "Bitcoin for Corporations" conference in Las Vegas in February 2026, citing MicroStrategy directly as the model. Capital B also plans to use its Bitcoin reserves to launch "Bitcoin-backed credit instruments" in Europe, targeting double-digit yields.
Company Added 192 BTC in May at $78,948 Average Price
Capital B has been building its Bitcoin stack steadily. In May 2026, it completed a €15.2 million private placement and acquired 192 BTC at an average price of $78,948 each. Notable cryptocurrency figures joined that round, giving the deal added credibility. Adam Back, CEO of Blockstream and a prominent cryptographer, participated in the funding, according to CoinCentral.
The company added another 4 BTC on June 1, bringing its total to 3,139 BTC. Its average acquisition cost sits at roughly €90,418 per Bitcoin, or about $97,000. Capital B reported a 1.85% Bitcoin Yield year-to-date as of June 2026, meaning it grew its Bitcoin holdings per share by that amount through active management, per Bloomingbit.
Stock Down 44% Even as Bitcoin Strategy Gains Steam
The market's reaction has been mixed. Capital B's share price fell roughly 7% immediately after the proposal was first unveiled in early June. Over the past six months, the stock is down about 44%, according to Crypto News. That gap shows how skeptical some investors remain about the dilution trade-off.
Still, the 95% vote in favor shows the core shareholder base is on board. The approval also comes as Europe's MiCA crypto regulation reaches its final compliance deadline on July 1, 2026. That regulatory shift favors large, transparent firms like Capital B while pushing smaller players out of the EU market, per Crypto Times.
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