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- France’s Capital B said it bought an additional 376 <a href="https://xpertsstudio.com/<a href="https://xpertsstudio.com/bitcoin-hovers-below-80000-ahead-of-us-inflation-data-as-fed-rate/” title=”Bitcoin Hovers Below $80,000 Ahead of US Inflation Data as Fed Rate”>bitcoin-price-prediction-can-bitcoin-reclaim-100k-before-year/” title=”Bitcoin Price Prediction: Can Bitcoin Reclaim $100K Before Year”>Bitcoin for about $29.4 million, increasing its holdings to 3,521 BTC.
- The company said its cumulative Bitcoin purchase amount stands at 309.4 million euros, with an average purchase price of 87,878 euros per coin.
- Capital B said it raised 28.7 million euros through a recent private share sale, while Adam Back invested an additional 7.6 million euros to secure a 17.64% stake.
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France’s Bitcoin treasury company Capital B has bought 376 Bitcoin for about $29.4 million, marking its largest purchase in roughly a year.
The Block reported on September 7 that Capital B spent 25.3 million euros, or about $29.4 million, to acquire the tokens. The purchase increased the company’s total Bitcoin holdings to 3,521 BTC.
Capital B has spent a cumulative 309.4 million euros, or about $359.3 million, on Bitcoin purchases to date. Its average purchase price was 87,878 euros, or about $102,058, per Bitcoin.
The latest purchase was the company’s biggest since it bought 551 BTC in September last year. It added just 6 BTC in August.
The purchase was funded through a recent capital raise. Capital B completed a private share sale and other financing totaling 28.7 million euros, or about $33.3 million. As part of that process, Blockstream co-founder Adam Back invested an additional 7.6 million euros, or about $8.8 million. His stake in Capital B rose to 17.64% of common shares.
Capital B changed its name from The Blockchain Group in July last year and has since focused on a Bitcoin treasury strategy. In June, the company said it was also reviewing the development of a Bitcoin-backed credit product for the European market modeled on Strategy’s STRC and Strive’s SATA.
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Source: en.bloomingbit.io