Capital B Becomes Second-Largest Publicly-Traded Bitcoin Holder in Europe
Key Takeaways
- •Capital B purchased 376 bitcoin for €25.3 million ($29.4 million), bringing its total holdings to 3,521 BTC.
- •The acquisition was funded through roughly €30.1 million in capital raises, including a €28.7 million private placement with backing from Adam Back and TOBAM.
- •Capital B's average acquisition price across its holdings is €87,878 ($102,058) per bitcoin.
- •The purchase moved Capital B ahead of Sweden's H100 Group, which holds 3,506 BTC, making it Europe's second-largest publicly traded bitcoin treasury firm.
- •Capital B trails Europe's leader Bitcoin Group SE by 84 bitcoins, while Strategy remains far larger globally with over 500,000 BTC.
Capital B, a bitcoin treasury firm listed in France, has announced the purchase of 376 bitcoin for €25.3 million ($29.4 million), bringing its total holdings to 3,521 BTC.
The acquisition is the company's largest bitcoin purchase since September 2025, when it bought 551 BTC.
Capital B said the latest purchase was funded through approximately €30.1 million ($35 million) in capital raises, including a €28.7 million private placement backed by investors such as Blockstream co-founder Adam Back and French asset manager TOBAM.
The company's cumulative bitcoin holdings have cost approximately €309.4 million ($359.3 million), giving it an average acquisition price of €87,878 ($102,058) per bitcoin.
The purchase reflects a broader corporate trend in which publicly traded firms hold bitcoin on their balance sheets as a treasury asset, a strategy popularized by US-based MicroStrategy (now Strategy) and since adopted by dozens of companies across Europe and beyond. In Europe, these treasury firms are now clustered within a few hundred bitcoins of one another, so ranking positions can shift with single purchases.
With this latest purchase, Capital B now sits ahead of H100 Group, a Sweden-based bitcoin treasury firm holding 3,506 bitcoins.
In March 2026, H100 acquired two Nordic crypto companies in a deal that lifted its reserves to over 3,500 bitcoins, nearly tripling its total holdings and making it the largest publicly-listed bitcoin treasury company in Europe at the time. That transaction was structured as a bitcoin-for-bitcoin exchange, meaning ownership in the combined entity was determined by contributed BTC rather than cash.
Prior to the acquisition, H100 was ranked number 44 on the global Bitcoin treasury companies list; afterward, it rose to number 27.
Capital B's next milestone would be overtaking Bitcoin Group SE, which holds 3,605 BTC — a gap of just 84 bitcoins at current levels. For context, the largest publicly traded bitcoin holders globally remain far larger: Strategy holds well over 500,000 BTC, making Europe's treasury firms small by comparison but growing through continued capital raises.
The top three largest publicly traded Bitcoin holders in Europe as of this writing are:
- Bitcoin Group SE – 3,605 BTC
- Capital B – 3,521 BTC
- H100 – 3,506 BTC
