Capital B Buys 376 BTC for $29M in Largest Purchase Since September 2025

A French company built around holding Bitcoin (BTC) as a treasury asset has made its biggest acquisition in a year, purchasing 376 BTC in a single move funded by a recently closed private placement.

Capital B announced Sept. 7 that it had bought the 376 BTC for €25.3 million ($29.4 million). The company’s total holdings now stand at 3,521 BTC, accumulated over time for a combined €309.4 million ($359.3 million), reflecting an average purchase price of €87,878 ($102,058) per BTC.

Adam Back Raised His Stake to 17.64%

The purchase was funded using proceeds from recently completed capital raises, including a €28.7 million ($33.3 million) private placement. Cryptographer and cypherpunk Adam Back contributed €7.6 million ($8.8 million) as part of that round, lifting his ownership in Capital B to 17.64% on an ordinary basis.

Monday’s buy marks a sharp contrast to the firm’s recent activity. Capital B purchased just 6 BTC in August 2026, and the last time it made a larger single acquisition was September 2025, when it bought 551 BTC. The company has not disclosed a timeline for future purchases.

Related Article: Bitwise CIO Says Institutional Capital Could Push BTC to $1.3M by 2035

Capital B Formerly Operated as The Blockchain Group

The firm rebranded from The Blockchain Group to Capital B in July 2025, centering its strategy entirely on Bitcoin treasury accumulation. In June 2026, the firm said it was exploring a Bitcoin-backed credit product aimed at European investors, modeled after instruments used by Strategy and Strive in the United States.

At the time of the announcement, BTC was trading at around $79,500. The asset had climbed to a local high of approximately $81,700 on Sept. 3 before pulling back over the following days.

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