Key Highlights
- Capital ₿ raises €3M and uses structured warrants to grow its Bitcoin treasury without issuing new shares.
- The Paris-listed firm now holds 2,844 BTC, aiming for 1% of total supply by 2033 with strategic buys.
- Global peers like Strategy Inc. and Metaplanet follow similar BTC accumulation trends amid market rally.
The Paris-listed company Capital ₿ accelerated its Bitcoin accumulation strategy in a deal with TOBAM and UTXO Management. By selling three-year warrants to TOBAM and UTXO Management, the firm secured €3 million in immediate liquidity.
Alexandre Laizet, Board Director of Bitcoin Strategy, announced on X: “Capital ₿ receives an upfront premium of €3 million with no share issuance, opening access to TOBAM and UTXO Management to new $ALCPB warrants for three years, priced at the highest of €1.01 or the euro equivalent of our mNAV 1.1.”
The company is focused on increasing the amount of Bitcoin it holds per share, while also leaving room for future capital raises that could bring in €27 million or more. This strategy makes Capital ₿ the first European company listed with a dedicated Bitcoin treasury, aiming to hold 1% of the total Bitcoin supply by 2033.
The €3 million warrant deal follows the firm’s recent purchase of 8 BTC for €0.5 million, paying roughly €60,934 per coin. Its total holdings currently stand at 2,844 BTC, worth about €264.4 million. Alexandre Laizet noted the steady progress: “The Group has achieved a BTC Yield of 0.29%, a BTC Gain of 8.1 BTC, and a BTC € Gain of €0.5M since the beginning of the year.”
Earlier this year, Capital ₿ purchased six BTC at €55,270 and five BTC at €64,124. Back in late 2025, the company made a much larger move, acquiring 551 BTC at €99,272 each.
Innovative warrants expand Capital B’s options
As per the release, the warrants from TOBAM and UTXO Management give Capital ₿ more flexibility in the vast $600 trillion derivatives market. They let the company buy Bitcoin in a way that could increase value for shareholders over time.
Unlike a typical share sale, this “upfront premium” does not result in the immediate issuance of new shares. Instead, it gives the investors the right to buy shares in the future at a price significantly above the current market value (a floor of €1.01).
Global Bitcoin accumulation trends
Capital ₿ is no longer an isolated European experiment. Its strategy is now running in parallel with global giants. Strategy Inc., led by Michael Saylor, added 22,337 BTC at an average of $70,194, continuing its 12-week buying streak in 2026.
Meanwhile, Tokyo-listed Metaplanet raised $255 million from institutional investors, using new share sales and fixed-strike warrants to expand its Bitcoin holdings quickly.
Bitcoin itself is pushing toward $75,000, fueled by a short squeeze in the derivatives market. According to data from CoinMarketCap, it is currently trading around $74,274, up 1.45% in the past 24 hours, with a brief peak near $76,000.
As a result, Capital ₿’s recent purchases and use of structured warrants show a wider European and global trend toward building corporate Bitcoin treasuries. The firm’s approach shows how European firms are rethinking cryptocurrency.
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