Capital B to Raise $9 Million for Additional Bitcoin Purchases
JOON HYOUNG LEE
Summary
- French-listed Capital B said it will raise $9 million in new funding for additional Bitcoin purchases.
- Capital B said it will raise $8.8 million through a private investment from Blockstream CEO Adam Back and use the proceeds to buy Bitcoin.
- Capital B said it could buy 376 more Bitcoin with the new funds and cash from its existing business, lifting it to 25th among publicly traded companies by holdings.
Forecast Trend Report by Period
French-listed Capital B is raising $9 million in fresh funding to buy more Bitcoin.
BitcoinTreasuries.net said on Sept. 2 that Capital B plans to raise $8.8 million through a private investment from Blockstream Chief Executive Officer Adam Back.
The company will use the new funds to purchase Bitcoin. Combined with cash generated by its existing business, Capital B stands to buy about 376 additional Bitcoin.
Capital B currently holds about 3,145 Bitcoin, ranking 26th among publicly traded companies worldwide. The additional purchase would lift the company to 25th place by Bitcoin holdings.
JOON HYOUNG LEE
gilson@bloomingbit.ioCrypto Journalist based in Seoul