Capital B has unveiled its proposed Bitcoin-backed credit product as the Paris-listed company, which currently holds 3,139 BTC, continues to expand the financing tools behind its Bitcoin cash strategy.
Summary
- Capital B is developing a Bitcoin-backed credit instrument for Europe that it says could deliver double-digit returns backed by its 3,139 BTC treasury.
- The proposed product draws inspiration from Strategy’s STRC and Strive’s SATA as Capital B seeks new ways to fund its Bitcoin accumulation strategy.
- The plan comes weeks after Capital B sought shareholder approval for up to €5 billion in equity issuances and €116 billion in credit instruments.
According to comments by Capital B board director Alexandre Laizet in an interview at BTC Prague, the company is working on a digital credit instrument for European investors that would draw on its Bitcoin reserves and take inspiration from products such as Strategy’s STRC and Strive’s SATA.
Laizet said the proposed offering aims to address what he described as limitations in European capital markets and could provide a new form of digital credit tailored to the region. He said the company is focused on creating an instrument that can generate double-digit returns while keeping volatility below double-digit levels.
The project comes just weeks after Capital B sought shareholder approval to authorize up to €5 billion in new stock issuances and €116 billion in credit instruments to accelerate Bitcoin accumulation. Shareholders are expected to vote on the proposal before the company’s combined general meeting on June 17.
Capital B Ties Credit Strategy to Bitcoin Cash Growth
During the BTC Prague interview, Laizet argued that Bitcoin cash companies are in a unique position to support high-yielding credit products due to Bitcoin’s historic rate of appreciation. He compared this model to traditional financial structures, where long-term cash flow generation is typically necessary to maintain double-digit returns.
Taking Strategy as an example, Laizet highlighted the company’s recent sale of 32 BTC to fund distributions related to its STRC preferred stock program, followed shortly after by the purchase of 1,587 BTC. According to his comments, such activity demonstrates how treasury companies can continue to operate credit structures while increasing their exposure to Bitcoin.
Interest in the sector has also increased, according to Laizet, who said Capital B saw a tenfold increase in investor interest in digital credit products compared to last year.
Company disclosures show that Capital B has steadily increased its Bitcoin reserves through a series of fundraising rounds.
Earlier this year, the company completed a €15.2 million private placement backed by investors including Blockstream chief executive Adam Back and Paris-based asset manager TOBAM. A portion of these proceeds funded the purchase of 192 BTC, while a subsequent acquisition of 4 BTC brought the total holdings to the current 3,139 BTC.
Operating as The Blockchain Group before becoming Capital B in July 2025, the company focused its strategy on increasing the amount of Bitcoin held per fully diluted share over time.
Risks remain part of the proposition
While highlighting the opportunity, Laizet also acknowledged several risks associated with the planned product. He said investors should consider factors such as Bitcoin price decline, execution risk, custody risk and counterparty exposure.
Responding to custody concerns, he said the company works exclusively with regulated banking partners and draws on teams with expertise in capital markets, technology and corporate finance.
No launch date has been disclosed for the instrument.
Capital B describes itself as Europe’s largest Bitcoin treasury company and said on its website that it aims to accumulate 1% of the total Bitcoin supply by 2033. The company has also set a goal of holding 15,000 BTC by the end of 2027.
