As more companies adopt Bitcoin (BTC) as a treasury asset, Capital B cannot remain calm. The firm recently added 2 BTC, but the significance of this move lies in how the purchase is financed.
Capital B raised capital via an At-Market (ATM) offering with TOBAM, issuing 200,000 new shares valued at €0.60 each and using the proceeds to purchase Bitcoin.
In simple terms, the company converts equity capital raised from the market into Bitcoin to gradually expand its treasury.
Capital B’s Bitcoin holdings
With this latest situation additionalCapital B currently holds 2,836 BTC at an average purchase price of €93,061, positioning the firm as one of Europe’s emerging institutional stewards.
Another important metric in the update is “BTC Return,” a concept popularized by Michael Saylor’s Strategy. How much is this metric? Bitcoin The value a company adds to shareholders based on the number of shares outstanding.
Capital B reports a 0.21% year-to-date BTC return; This means that shareholders actually gained approximately 5.9 BTC (approximately 0.35 million euros) in value in the first quarter.
The company still maintained its positive BTC return despite issuing new shares at a 21.6% discount due to recent market volatility.
This suggests that the additional Bitcoin the company acquired helped offset the weakening caused by new share issuances.
For investors, this creates a unique proposition where, rather than simply holding Bitcoin, Capital B structures its financing to increase the value of Bitcoin each share represents.
Strategy 101. Buying Bitcoin
However, Capital B’s latest Bitcoin purchase complete 101. With his Bitcoin purchase, he brought his total assets to around 720,737 BTC.
However, the market’s reaction to these two companies differs in investor sentiment.
MSTR lately fallen approximately 4.49% to $133.53. Whereas Capital B’s stock (ALCPB) rose 7.48% to €0.83.
At the same time, the broader Bitcoin treasury trend is facing increasing pressure.
Public companies are now together to hold approximately 1,138 million BTC, but with Bitcoin trade Around $67,713, most of these assets are currently in the red.
Bitcoin treasury companies underwater
Investor Charles Edwards recently pointed It was revealed that approximately 77% of Bitcoin treasury companies keep their Bitcoins at a lossQ. This level of stress hasn’t been seen since the Terra-Luna collapse in May 2022.
For this reason, investors are being more cautious. As Bitcoin tries to gain strong momentum, the market is no longer focused solely on how much Bitcoin companies are buying.
Instead, investors are closely examining whether these companies can manage their balance sheets and withstand prolonged price fluctuations.
Simply put, the Bitcoin treasure race is no longer just about buying more BTC; It’s about which companies can hold onto their reserves the longest without being forced to sell them.
Final Summary
- Capital B’s move shows that even small Bitcoin purchases can signal larger strategic shifts in corporate treasury management.
- Market conditions remain challenging; 77% of Bitcoin treasury companies currently hold their BTC at a loss.
