Capital B Approves $121 Billion Fundraising Plan to Boost Bitcoin Purchases
JOON HYOUNG LEE
Summary
- Capital B’s board approved a fundraising plan totaling about $121 billion, according to the report.
- Capital B said it could raise up to $5.76 billion through new share issuance and as much as $115.2 billion through credit instruments.
- Capital B said it could expand its Bitcoin purchases with the new funding and buy more than 1.87 million tokens at current prices.
Capital B, a Bitcoin-based digital asset treasury company, is pursuing a $120 billion fundraising plan to buy more Bitcoin.
Odaily reported on June 18 that Capital B’s board recently approved a fundraising plan totaling about $121 billion. Under the proposal, the company could raise up to $5.76 billion through new share issuance and as much as $115.2 billion through the sale of credit instruments.
Capital B plans to use the newly raised funds to expand its Bitcoin purchases. At current prices, the company could buy more than 1.87 million Bitcoin with the new funding, according to Odaily.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul
