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Morning Edition · Saturday, August 29, 2026Published at 1:48 AM EDT · New York
Capital B Raises €21 Million With Warrants That Could Cut Its Bitcoin-Per-Share Ratio by About 24%
Adam Back and TOBAM joined the placement, which would fund roughly 270 additional Bitcoin, while a separate company that sold all its holdings to repay debt now targets an $827 million rebuild.
Capital B, the French Bitcoin treasury company, raised €21 million from institutional investors including Adam Back and the asset manager TOBAM. The company held 3,145 bitcoin at the time of the announcement, worth more than $245 million, a…
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Leveraged Bitcoin Treasury Vehicles Show Financing Strain
Over ~3-9 months, Bitcoin treasury companies face mounting financing stress as their funding instruments trade below par on dividend-coverage doubts, testing the sustainability of the debt/preferred-funded accumulation model.
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