Capital B shareholders approve up to $120B in financing capacity for Bitcoin strategy

Source: Capital B Capital B shares were little changed following the announcement, according to Yahoo Finance data. Capital B is Europe’s second-largest Bitcoin treasury company, holding 3,139 BTC, currently valued at $200 million. It ranks behind Germany-based Bitcoin Group SE, which holds 3,604 Bitcoin, currently worth $230 million, Bitcoin Treasuries data shows. To date, Capital B said it raised about $325 million in capital, following its $17.8 million raise from strategic investors, including Blockstream CEO Adam Back and Paris-based asset manager TOBAM. Related: Mystery Bitcoin burn destroys 107 BTC worth about $8.5M The fundraising initiative contrasts with moves by some treasury companies to reduce or actively manage their Bitcoin exposure. On May 28, France-based semiconductor company Sequans Communications said it had concluded its previously announced crypto treasury strategy. The company held 658 Bitcoin and said it would “monetize remaining holdings over time,” which led to a share price increase of about 14.5%. Magazine: Bitcoin, the ‘canary in the coal mine,’ XRP transaction demand falls 91.5%: Market Moves More on the subject