French-listed company Capital B is seeking shareholder approval for new capital-raising instruments to significantly expand its Bitcoin reserves. The company plans to accelerate cryptocurrency purchases through the issuance of new shares and debt instruments, according to Cointelegraph.com reports.
According to a post on X by Alexandre Laizet, a member of Capital B's board of directors, the company has proposed a capital increase of €5 billion (approximately $5.8 billion) and the introduction of $116 billion in debt instruments. Shareholders can vote online on this matter until June 17.
This initiative comes at a time when other smaller companies are selling assets or shifting to hedging strategies due to market pressure. Capital B recently purchased 192 BTC for $15.2 million, bringing the company's total balance to 3,139 BTC following Monday's additional purchase.
Currently, Capital B ranks 25th globally in Bitcoin holdings and second in Europe, behind Germany's Bitcoin Group SE. Following the announcement, the company's share price fell by 7% to $0.56.
Read “Zamin” on Telegram!
