France's bitcoin treasury firm Capital B invested 25.3 million euros to buy an additional 376 BTC. The purchase lifted Capital B's total bitcoin holdings to 3,521 BTC.

On Sept. 7, foreign media including blockchain outlet Cointelegraph reported that Capital B moved to buy more bitcoin after recently completing fundraising worth about 30.1 million euros. The fundraising included a private placement joined by Blockstream co-founder and CEO Adam Back (Adam Back) and TOBAM. Capital B bought bitcoin at an average 67,182 euros per coin. Swissquote Bank Europe executed the purchase, while custody used technology from Swiss firm Taurus.

The purchase is Capital B's largest since it bought 551 BTC for 54.7 million euros in September 2025. That brings the total amount Capital B has invested to secure bitcoin treasury assets to 394.1 million euros, and the average purchase price of its holdings to 87,878 euros per BTC. Based on BitcoinTreasuries.net data, Capital B ranks 25th among listed companies by bitcoin holdings after the purchase. Separately, Capital B holds 61 BTC for operating purposes, manages them separately from its treasury holdings and excludes them from bitcoin-related performance metrics.

The purchase also changed the European race for bitcoin holdings. Sweden's H100 Group increased its total holdings to 3,506 BTC by incorporating 2,455 BTC held by Norwegian companies it acquired in August, making it the second-largest bitcoin holder among European listed companies at the time. Capital B now holds 3,521 BTC, putting it 15 BTC ahead of H100 Group. Germany's Bitcoin Group SE still leads both companies with 3,605 BTC.

Companies' bitcoin treasury strategies are diverging. Some firms, such as K Wave Media and Sequence Communications, are reducing holdings, while others continue to buy more. Japan's Metaplanet bought 2,823 BTC in the second quarter for about $222 million, lifting its total holdings to 43,000 BTC. The quarterly average purchase price was about $78,850 per bitcoin, and Metaplanet ranks third among listed companies by bitcoin holdings after Strategy and Twenty One Capital, following Strategy board chairman and executive chairman Michael J. Saylor (Michael J. Saylor).

Strategy, the world's largest corporate bitcoin holder, also resumed buying in August. After halting purchases for two months, it bought an additional 4,603 BTC for $370 million. That lifted its total holdings to 845,050 BTC, and its cumulative acquisition cost reached $63.3 billion.

While some listed companies are scaling back bitcoin treasury strategies, others are increasing holdings through fundraising, acquisitions and direct purchases. Capital B's latest purchase shows competition among European listed companies for bitcoin holdings is continuing.