Bitcoin Treasury Firm Capital B Acquires $15M BTC Amid Michael Saylor’s Cryptic Post
Highlights
- Capital B accumulated another 192 BTC, according to its latest announcement.
- The total amount of Bitcoin rose to 3,135 BTC while the reserve acquisition value increased to more than €283 million ($319 million), the company said.
- Traders are now expecting a major Bitcoin purchase by “Big Dot Energy” from Michael Saylor.
Bitcoin treasury companies did keep adding to their BTC holdings this week. French BTC treasury firm Capital B made another massive purchase of Bitcoin. Meanwhile, markets are responding to Michael Saylor’s recent cryptic comment on social media.
Capital B Buys More Bitcoin
On May 17, Saylor posted on X the same signature Bitcoin accumulation chart. He added the words, “Big Dot Energy.” The post immediately caught the eye of crypto markets as such charts have been seen before each time Strategy has made a purchase of BTC.
Moreover, on Monday, Capital B also revealed it had finalized a few rounds of financing to boost its Bitcoin treasury approach. It raised about €13 million ($15.2 million) for the company, which is listed on the Paris stock exchange. Thereafter, it went on to acquire an additional 192 BTC.
Now the company has announced that it has increased its total holdings of Bitcoin to 3,135 BTC. With an average price of €90,451 ($105,203) per Bitcoin, the combined value of those reserves is about €283.6 million ($329 million), Capital B said.
Institutional Investors Support Capital B’s Initiative
Capital B’s funding round also attracted institutional investors worldwide. Paris-based TOBAM and Adam Back, a private placement investor joined in as major contributors. The company also completed a standalone €1.1 million ($1.28 million) warrant financing transaction with Back.
Capital B indicated that the shares were sold with each holding four subscription warrants. All of the warrants could be exercised over time to unleash an additional €99.1 million ($115.26 million).
The warrants have different strike prices ranging from €0.86 ($1) to €1.46 ($1.70) and a five-year expiration date. Also, it added accelerated exercise conditions that were related to the share price in the future.
Capital B was “Europe’s first Bitcoin Treasury Company,” said the company, and the latest round of funding would help it continue to buy more Bitcoin.
The company also posted a year to date BTC Yield of 1.82% and a BTC Gain of 51.3 BTC, which translates to almost €3.5 million ($4.07 million).
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