Capital B, a company engaged in purchasing Bitcoin and registered in Paris, acquired 13 bitcoins (BTC) for €0.97 million, increasing its total reserve to 3,538 BTC. According to Bitcoin Treasuries, this reserve ranks second among European public companies, with only the German Bitcoin Group SE holding more– 3,605 BTC. Recently, the company reported a year-to-date bitcoin yield of 2.20%. This metric tracks the number of bitcoins the company owns per fully diluted share. The average purchase price was €74,364 per coin, which is significantly lower than its average price across the entire reserve of €87,805, costing the company €310.6 million.
According to the company, the market value of its assets is approximately €259.9 million, leading to paper losses of about €50.8 million. At the time of purchase, Bitcoin was trading around $82,800, down 2.29% for the day, but up about 7% over the past month. Earlier in September, Capital B added 376 BTC for approximately €25.3 million, marking its largest purchase this year. Blockstream CEO Adam Back also invested €7.6 million in Capital B this month. The purchase financing was secured by TOBAM through an "at-the-market" (ATM) agreement. Under this agreement, Capital B issues new shares at the fund's request. From September 14 to 22, three TOBAM funds acquired 172,978 shares at approximately €5.68 each, which is 3.8% above the previous closing price.
Currently, the largest shareholder remains Blockstream Capital Partners, holding 18.67% of common shares, while Adam Back holds an additional 17.54%. The shares were sold by Swissquote Bank Europe, which also acts as the company's bitcoin custodian and operates under the European Union's MiCA regulations. Capital B continues to actively replenish its reserves at prices below its average cost, gradually reducing this metric. How quickly it will decrease depends on how actively TOBAM continues to request new shares.
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