Capital B aims to buy 376 bitcoin after $8.8 million Adam Back investment

Capital B raised 7.6 million euros from Bitcoin developer and investor Adam Back. The amount equals $8.8 million. Capital B plans to use the proceeds to buy up to 376 bitcoin. The purchase would increase its holdings to 3,521 bitcoin. The resulting holdings would be valued at $269.5 million. A Wednesday filing said Capital B issued 13,181,030 shares. Each share included four warrants. The shares were issued at 58 euro cents each. Capital B last reported holding 3,145 bitcoin. The company acquired those holdings for 284.2 million euros. The average acquisition price was 90,352 euros per bitcoin. The holdings were valued at 214 million euros. The dollar value was $248 million. The purchase would give Capital B the second-largest bitcoin treasury among Europe-listed public companies. Bitcoin Group SE has 3,605 bitcoin, according to Bitcoin Treasuries. Adam Back is the CEO of Bitcoin developer Blockstream. He is an early cypherpunk cited in the original 2008 white paper.