Capital B has unveiled plans for a bitcoin-backed credit product as the Paris-listed company, which currently holds 3,139 BTC, continues expanding the financing tools behind its Bitcoin treasury strategy.
Summary
- Capital B is developing a Bitcoin backed credit instrument for Europe that it says could offer double digit yields 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 finance its Bitcoin accumulation strategy.
- The plan comes weeks after Capital B sought shareholder approval for up to €5 billion in equity issuance and €116 billion in credit instruments.
According to comments made by Capital B board director Alexandre Laizet during 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 is intended 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 building an instrument capable of delivering double-digit yields while keeping volatility below double-digit levels.
The project arrives just weeks after Capital B sought shareholder approval to authorize up to €5 billion in new equity issuance and €116 billion in credit instruments to accelerate Bitcoin accumulation. Shareholders are scheduled to vote on the proposal ahead of the company’s June 17 combined general meeting.
Capital B ties credit strategy to Bitcoin treasury growth
During the BTC Prague interview, Laizet argued that Bitcoin treasury companies are uniquely positioned to support high-yield credit products because of Bitcoin’s historical rate of appreciation. He contrasted the model with traditional finance structures, where long-term cash flow generation is typically required to sustain double-digit returns.
Using Strategy as an example, Laizet pointed to the company’s recent sale of 32 BTC to fund distributions linked to its STRC preferred stock program, followed shortly afterward by the purchase of 1,587 BTC. According to his comments, such activity demonstrates how treasury companies can continue operating credit structures while growing their Bitcoin exposure.
Interest in the sector has also increased, according to Laizet, who said Capital B has recorded a tenfold rise in investor interest in digital credit products compared with last year.
Company disclosures show Capital B has steadily expanded its Bitcoin reserves through a series of fundraising rounds.
Earlier this year, the firm completed a €15.2 million private placement backed by investors including Blockstream chief executive Adam Back and Paris-based asset manager TOBAM. Part of those proceeds funded the purchase of 192 BTC, while a later acquisition of 4 BTC brought total holdings to the current 3,139 BTC.
Operating under the name The Blockchain Group before rebranding as Capital B in July 2025, the company has centered its strategy on increasing the amount of Bitcoin held per fully diluted share over time.
Risks remain part of the proposal
While outlining the opportunity, Laizet also acknowledged several risks associated with the planned product. He said investors must consider factors including Bitcoin price declines, execution risk, custody risk, and counterparty exposure.
Addressing custody concerns, he said the company works exclusively with regulated banking partners and relies 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 has stated on its website that it intends to accumulate 1% of Bitcoin’s total supply by 2033. The company has also set a target of holding 15,000 BTC by the end of 2027.
