Top bitcoiner Adam Back has invested €7.6 million ($8.8 million) in Capital B, the Euronext Growth-listed company that bills itself as Europe’s first bitcoin treasury company.
The company said Wednesday that the investment will be used to buy more bitcoin. Adam Back is the CEO of bitcoin infrastructure company Blockstream, and one of the biggest and well-known figures in the space
Capital B’s announcement comes after the company last week said it had raised €21 million ($24 million) in a private placement backed by Blockstream’s Adam Back and asset manager TOBAM.
“The proceeds of the Private Placement will be used primarily to strengthen Capital B’s balance sheet through the accumulation of bitcoin as a long-term reserve asset,” the company said in a statement.
“This capital increase is a key step in implementing the company’s Bitcoin Treasury Company strategy, focused on increasing the number of bitcoin per share on a fully diluted basis over time.”
It added that the placement would fund it buying 376 additional bitcoins, taking its potential holdings to 3,521 coins from its current stash of 3,145.
Capital B is the 26th biggest publicly traded bitcoin treasury in the world, according to Bitcoin Treasuries, with a total of 3,145 bitcoins in its coffers — worth $242 million at today’s bitcoin price of $76,959.
Capital B built much of that position through fundraising rounds during the first half of 2026.
In May, it acquired 192 coins for €13 million after completing three capital raises.
Capital B’s is trying to build a bigger bitcoin position as other treasuries look to raise funds and accelerate their buys.
NYSE-listed AI-powered education company Genius Group last week said it was aiming to build parallel AI and bitcoin treasuries worth a combined $1.6 billion, after the company sold its entire bitcoin reserves to repay $8.5 million in debt.
The Bitcoin treasury model has taken a hit since last year when the price of the leading cryptocurrency took a hit.
A number of companies in the space have had to liquidate their holdings — including the biggest corporate holder of bitcoin, Nasdaq-listed Strategy.