Capital B expanded its corporate bitcoin treasury to 2,925 BTC after raising capital through bond conversions and an equity sale. The move continues a broader trend of companies adopting bitcoin as a reserve asset, using a strategy focused on long-term accumulation.
Capital B lifted its bitcoin treasury to 2,925 BTC, worth approximately $205 million, after completing an equity raise and converting bonds, the company announced on April 13.
"This action aligns with our long-term strategy of using bitcoin as a primary treasury reserve asset to protect and grow shareholder value," the company said in a statement released after market close.
The acquisition was funded through a combination of newly issued equity and the conversion of outstanding corporate bonds. The company employs a "BTC Yield" metric, similar to that of treasury giant Strategy Inc., to measure the growth of bitcoin holdings per share, aiming to outpace dilution from its capital-raising activities.
The move further tightens the liquid supply of bitcoin and reinforces a corporate adoption narrative that could encourage other firms to follow suit, potentially adding sustained buying pressure to the market. For investors, it provides another equity vehicle for gaining regulated exposure to bitcoin.
While Capital B's holdings are a fraction of the 766,970 BTC held by Strategy Inc. or the nearly 39,000 BTC on Marathon Digital's balance sheet, the consistent accumulation by smaller public companies is a significant market indicator. It demonstrates that the corporate treasury strategy pioneered in 2020 is expanding beyond a few large players.
With bitcoin trading near $70,000 as of 21:00 UTC, the value of Capital B's treasury stands as a notable asset on its balance sheet. The strategy of issuing debt or equity to acquire bitcoin allows companies to build their holdings without depleting operating cash flow, though it exposes shareholders to the volatility of both the company's stock and the digital asset.
This ongoing trend of corporate accumulation is a key factor supporting bitcoin's valuation in 2026, acting as a consistent source of demand that absorbs market supply. The success of these treasury programs hinges on bitcoin's price remaining above the average cost basis of the accumulated coins over the long term.
This article is for informational purposes only and does not constitute investment advice.
