Capital B is working on a bitcoin-backed digital credit product aimed at European investors, the Paris-listed firm revealed at BTC Prague as it expands the financing toolkit behind its Bitcoin treasury strategy.
What’s planned
- The product would tap Capital B’s Bitcoin reserves (the company currently holds 3,139 BTC) to underwrite a credit instrument inspired by offerings such as Strategy’s STRC and Strive’s SATA.
- According to board director Alexandre Laizet, the goal is to deliver double-digit yields while keeping volatility under double-digit levels — a design intended to address perceived gaps in European capital markets for yield-generating digital credit.
Why this model
- Laizet argued that Bitcoin treasury companies are uniquely positioned to support high-yield credit structures because of Bitcoin’s historical appreciation, allowing treasury-backed credit to potentially sustain attractive returns without the long-term cash-flow requirements of traditional finance.
- He pointed to recent industry activity — citing Strategy’s sale of 32 BTC to fund STRC-linked distributions and a subsequent purchase of 1,587 BTC — as an example of how treasury firms can operate credit products while still growing Bitcoin exposure.
Financing push and shareholder vote
- The announcement comes shortly after Capital B sought shareholder approval to authorize up to €5 billion in new equity and €116 billion in credit instruments to accelerate Bitcoin accumulation. Shareholders will vote on the proposal ahead of the company’s combined general meeting on June 17.
Rising investor interest and capitalization
- Laizet said investor interest in digital credit has risen roughly tenfold versus last year.
- Capital B has been steadily building its reserve through fundraising. Earlier this year it completed a €15.2 million private placement backed by investors including Blockstream CEO Adam Back and Paris asset manager TOBAM. Part of those proceeds funded the purchase of 192 BTC; a later 4 BTC buy brought the company’s total to 3,139 BTC.
Operational details and risks
- The company — which rebranded from The Blockchain Group to Capital B in July 2025 and describes itself as Europe’s largest Bitcoin treasury company — says it works with regulated banking partners and teams experienced in capital markets, technology and corporate finance to manage custody and operational risk.
- Laizet cautioned investors should weigh several risks tied to the product, including Bitcoin price declines, execution risk, custody concerns and counterparty exposure.
- No launch date for the instrument has been disclosed.
Long-term targets
- Capital B has set ambitious accumulation targets: it aims to hold 15,000 BTC by the end of 2027 and ultimately to accumulate 1% of Bitcoin’s total supply by 2033.
Bottom line
Capital B’s proposed bitcoin-backed credit instrument signals growing innovation at the intersection of corporate Bitcoin treasuries and yield products in Europe. If approved by shareholders and successfully executed, the offering could expand institutional access to crypto-backed credit — but it will carry the market, custody and execution risks Laizet highlighted.
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