Paris-listed Bitcoin treasury firm Capital B has expanded its holdings by purchasing 13 Bitcoin (BTC) for €0.97 million. This latest transaction brings the company’s cumulative reserves to 3,538 BTC.
Furthermore, the firm announced a year-to-date BTC Yield of 2.20%. This indicator measures the quantity of Bitcoin the business maintains per fully diluted share.
Capital B Bitcoin Buy Lands Below Average Cost
During this acquisition, the company spent an average of €74,364 per coin. That rate sits notably lower than its overall average purchase price of €87,805 per coin across a treasury built for €310.6 million.
Data from Bitcoin Treasuries indicates that this reserve positions second among European public companies. Germany’s Bitcoin Group SE remains the leader with 3,605 BTC.
Even so, prevailing market values reflect a different financial standing. The company calculates the net asset value of its reserves at approximately €259.9 million, referencing the prior day’s closing price. Because of this, the treasury experiences an unrealized paper loss of roughly €50.8 million.
In broader market action, BeInCrypto metrics show Bitcoin trading near $82,800, marking a 2.29% daily decline. Over the preceding month, the asset has appreciated by about 7%.
Earlier in the month of September, Capital B completed its largest acquisition of the year by securing 376 BTC for roughly €25.3 million. Blockstream CEO Adam Back also injected €7.6 million into Capital B during the same month.
TOBAM Share Sales Fund the Purchase
Capital used an at-the-market (ATM) agreement with Paris-based asset manager TOBAM to finance the acquisition. Under this arrangement, Capital B generates new shares whenever the fund submits a request.
Between September 14 and September 22, three separate TOBAM funds acquired 172,978 shares at a rate of roughly €5.68 each. The company notes that this transaction price represented a 3.8% premium relative to the preceding closing price.
Blockstream Capital Partners continues to hold the position of largest shareholder, owning 18.67% of ordinary shares. Meanwhile, Back maintains an individual stake of 17.54%.
The transaction was executed and is held by Swissquote Bank Europe, which serves as Capital B’s exclusive custodian. The bank operates under licensing compliant with the European Union’s Markets in Crypto-Assets (MiCA) regulations.
Similar share-funded acquisition strategies have been deployed by other corporations over the course of the year. Concurrently, treasury firms sustained their coin accumulation efforts throughout a volatile September.
Capital B continues to acquire coins below its baseline cost, which gradually drives down its overall average cost per coin. The pace of this reduction will likely rely on TOBAM’s ongoing appetite for newly issued shares.
Frequently Asked Questions
How many Bitcoin does Capital B currently hold?
Capital B holds a total of 3,538 BTC following its recent purchase of 13 Bitcoin.
What was the average cost of the latest Bitcoin purchase?
The company acquired the latest batch of Bitcoin at an average price of €74,364 per coin, which is lower than its overall average treasury cost of €87,805 per coin.
How is Capital B funding its Bitcoin purchases?
The acquisitions are financed through an at-the-market (ATM) agreement with Paris-based asset manager TOBAM, where Capital B issues new shares upon request.
Who serves as the custodian for Capital B’s Bitcoin?
Swissquote Bank Europe executes the trades and holds the coins as Capital B’s sole custodian under EU MiCA regulations.
