Capital B shareholders approved a fundraising mandate as the Bitcoin treasury firm seeks to reverse stock pressure, expanding BTC holdings.
The approval allows the company to issue up to €5 billion in new equity and €100 billion in credit instruments to support its plan to hold 210,000 BTC by 2033.
Shareholders Back Major Funding Mandate
The approval came at Capital B’s annual general meeting on June 17, where more than 95% of votes cast supported all resolutions. Shareholders representing about 164.6 million voting rights took part, equal to 54.7% of the 300.6 million voting rights outstanding.
The mandate gives Capital B flexibility to raise capital over time rather than complete one large transaction. Board director Alexandre Laizet said in a June 2 post on X that the structure was designed to let the board move steadily as conditions develop.
At €0.04 per share, the equity authorization could allow the creation of 125 billion new shares. Capital B holds 3,139 BTC and wants to reach about 1% of Bitcoin’s total supply by 2033.
Capital B Expands Bitcoin Treasury Strategy
Capital B has increased its treasury through recent fundraising rounds. In March, the company raised €3 million through share subscription warrants from TOBAM and UTXO Management.
In May, it completed a €15.2 million private placement that again included TOBAM and added Blockstream CEO Adam Back. Those proceeds helped the company acquire another 196 BTC, lifting holdings to 3,139 BTC.
After the May placement, Adam Back’s stake is expected to reach 13.43%. Blockstream Capital Partners is expected to hold 14.42%, while TOBAM is expected to hold 4.20%.
The company is seeking to follow the Bitcoin treasury model used by Strategy in the United States and Metaplanet in Japan. BitcoinTreasuries.net ranks Capital B as the 26th largest public company Bitcoin holder. Strategy leads with 846,842 BTC.
Digital Credit Product Targets European Investors
Capital B is developing a digital credit product for European investors. Laizet discussed the plan during a BTC Prague interview before the shareholder vote.
The proposed product would follow elements of Strategy’s STRC preferred stock and Strive’s SATA. It aims for double-digit yields while keeping volatility below double digits.
Laizet said Bitcoin treasury firms can support high-yield credit by using Bitcoin’s long-term appreciation instead of traditional cash flows. He also said demand for digital credit products at Capital B had risen tenfold from the previous year.
Laizet acknowledged risks, including Bitcoin price declines, custody exposure, execution uncertainty, and counterparty risk. He said Capital B works only with regulated banking partners. Google Finance showed Capital B trading at €0.45, below its yearly high of €2.99.
