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Capital B and Metaplanet Load Up on Bitcoin With Millions in Fresh Capital Raises

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Capital B confirmed the purchase of 8 Bitcoin ($BTC) for €0.5 million, pushing its total treasury to 2,844 $BTC valued at €264.4 million.

The Paris-listed firm, which brands itself as Europe’s first Bitcoin treasury company, reported a year-to-date $BTC yield of 0.29% as it continues funding purchases through equity raises with TOBAM.

Corporate $BTC Buying Intensifies on Two Continents

Capital B (ALCPB) has steadily expanded its Bitcoin balance sheet since adopting a Bitcoin standard in November 2024. The company acquired the latest batch at roughly €60,934 per $BTC through an ATM-type capital increase at €0.71 per share.

Alexandre Laizet, Board Director of Bitcoin Strategy at Capital B, shared the updated figures on March 16.

🟠 Capital ₿ has acquired 8 $BTC for €0.5 million at €60,934 per bitcoin and has achieved $BTC Yield of 0.29% YTD. As of 3/16/2026, $ALCPB holds 2,844 $BTC for €264.4 million at €92,971 per bitcoin⚡️@_ALCPB Europe's First Bitcoin Treasury Company 🇫🇷⚡️ https://t.co/fa4GOFMBzp pic.twitter.com/WjidPkydcf

— Alexandre Laizet ⚡️ (@AlexandreLaizet) March 16, 2026

Meanwhile, the race to stack sats is heating up in Asia. Japan’s Metaplanet disclosed a new share placement that pulled in approximately $255 million from global institutional investors.

CEO Simon Gerovich said the new shares were priced at a 2% premium and paired with fixed-strike warrants at a 10% premium.

Metaplanet has raised ~$255m from global institutional investors via a placement of new shares priced at a 2% premium, paired with fixed-strike warrants at a 10% premium that monetize our equity volatility for up to ~$276m in additional capital upon exercise. Up to ~$531m in… pic.twitter.com/0tg62TopGR

— Simon Gerovich (@gerovich) March 16, 2026

Those warrants could unlock roughly $276 million in additional capital upon exercise, giving the firm up to $531 million in total buying power.

Metaplanet Introduces Novel Warrant Mechanism

Gerovich also revealed that Metaplanet issued 100 million Moving Strike Warrants with a first-of-its-kind mNAV clause. Exercise is permitted only when the stock trades above 1.01x mNAV, a guardrail designed to protect existing shareholders from dilution.

Metaplanet has issued 100 million Moving Strike Warrants with a first-of-its-kind mNAV clause. Exercise is only permitted when the stock trades above 1.01x mNAV, ensuring every share issued increases shareholder value. This enables the company to raise an estimated $234M in… pic.twitter.com/bdqxOs5gRs

— Simon Gerovich (@gerovich) March 16, 2026

The structure could raise an estimated $234 million in additional capital, but only when issuance would be accretive to $BTC per share.

“~$255m to buy more $BTC,” remarked Dylan LeClair

Metaplanet targets 210,000 $BTC as part of its long-term accumulation plan. The firm held 35,102 $BTC at the end of 2025 and has continued buying through 2026 despite sharp price volatility.

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