Capital B raises 11.5 million euros with a double financial operation to strengthen its reserves in Bitcoin. A strategic initiative that combines equity and convertible bonds to build a sustainable digital governance model.
The move by Capital B: hybrid issuance to accumulate Bitcoin
The group Capital B (ALCPB), formerly The Blockchain Group, announced a fundraising structured in two main instruments:
| Instrument | Value | Unit price | Main participants |
| Capital increase | ~5 million € | ~4 €/share | TOBAM Bitcoin Alpha Fund, Adam Back |
| Convertible bonds | ~6.5 million € | 3.66 €/share | Directly subscribed by Capital B |
Declared objective: exceed 2,000 BTC in reserve, a figure reached with 2,013 BTC held after the latest acquisitions.
The strategia mista adopted by Capital B combines flexibility and long-term vision:
Direct increase of BTC reserves
Greater management efficiency compared to only equities or pure debt
Adaptability to market fluctuations
Convertible bonds offer investors the possibility to transform debt into shares, participating in both corporate growth and the appreciation of the Bitcoin held.
“A modern management of crypto treasury requires hybrid tools, solid governance, and qualified partners,” stated Capital B in the official release
It is a debt security that can be converted into shares at a predetermined price. It allows the company to receive immediate capital, leaving investors with a strategic choice for the future.
| Advantages for the company | Benefits for the investor |
| Fast fundraising | Participation in growth |
| Flexible structure | Return + potential equity |
| Increased liquidity | Protection from volatility |
In-depth: How convertible bonds work – Investopedia
Impact on the Bitcoin portfolio: strategic vision
The capital raised will be used for targeted purchases of BTC, following a logic of gradual accumulation. This approach offers three main advantages:
Mitigation of volatility through staggered entries- Dynamic asset allocation according to the macroeconomic cycle
Financial resilience thanks to asset solidity
The operation aims to strengthen two pillars of digital finance:
Solid and transparent governance
Diversification of funding sources
The introduction of structured instruments such as convertible bonds elevates Capital B’s profile, distinguishing it from many crypto realities that are still poorly regulated.
“Only companies capable of combining innovation and compliance will attract institutional capital,” states the Chainalysis Bitcoin Market Report 2024
What advantages does the market gain from this move?
- Rapid influx of capital
- Valuation of digital assets in treasury
- Strengthened credibility thanks to partners like TOBAM and Blockstream
- Synergy between traditional finance and Web3
Here is a visual summary of the combined benefits:
Capital B issues new shares and bonds that, in the future, can be converted into equity securities. This model allows to:
Gather resources immediately
Integrate digital assets into established financial structures
Plan future investments in both Bitcoin and equity
The initiative of Capital B is already becoming a benchmark for the European crypto-finance sector. The union between structured finance, transparent governance, and strategic management of the Bitcoin treasury opens new scenarios for other operators as well.
According to several analysts, this integration between digital assets and traditional financial instruments could define a new phase of the market: more mature, more sustainable, more attractive for institutional investors.