Bitcoin Hoarder Capital B: Down 90% But Still Buying Like It’s 2021

by

Hot Mess Highlights

  • Capital B, the self-proclaimed “Bitcoin Treasury Darling of Europe,” just dropped €0.3M on 6 BTC because apparently, they’re allergic to good financial advice.
  • Their grand total? 2,834 BTC. Average cost? A cool €93,083 per coin. Current market price? A mere €58K. Someone check their pulse-are they okay?
  • ALCPB shares are trading at €0.60, down 90% from their 2025 peak. But hey, at least they’re consistent-consistently losing money while hoarding Bitcoin.

So, Capital B-the Paris-based firm that’s basically Europe’s answer to “What if MicroStrategy had a midlife crisis?”-just bought another tiny batch of Bitcoin. Because why not? Shares are tanking, but Bitcoin is shiny, and apparently, that’s all the rationale they need.

According to their latest announcement, they dropped €0.3 million (or $356K, if you’re into that sort of thing) on 6 BTC on February 16. This brings their grand total to 2,834 BTC, worth roughly €165 million. Or, in simpler terms, enough to buy a small island-if only their shares weren’t drowning.

The funds came from an “at-the-market” (ATM) raise with TOBAM, where they managed to scrape together €400,000 at €0.67 per share. After costs, they funneled it straight into Bitcoin at €55,270 per coin. Because nothing says “financial strategy” like throwing money at a volatile asset while your stock price freefalls.

Capital B’s approach is basically MicroStrategy’s little cousin trying to keep up at a family reunion. But hey, they’re the first publicly listed company in Europe to slap a “Bitcoin Treasury” label on themselves, so there’s that. Plus, they do data intelligence and AI consulting on the side-because why not confuse investors even more?

Capital B’s Bitcoin Obsession and Stock Market Sob Story

Trading under ALCPB on Euronext Growth Paris, Capital B boasts a year-to-date “BTC Yield” of 0.2%. Which, let’s be honest, is about as impressive as a goldfish doing a backflip. Earlier this month, they added 5.3 BTC, netting a modest €300,000 gain. Meanwhile, their shares are down 90% from their 2025 peak. But sure, keep hoarding Bitcoin-it’s not like shareholders are crying into their coffee or anything.

Compared to big players like MicroStrategy and Marathon Digital, Capital B’s holdings are basically a drop in the ocean. But in Europe, they’re a big fish in a tiny, slightly murky pond.

ALCPB shares peaked at €5.96 in June 2025, back when Bitcoin was having its moment. Now? They’re trading near €0.592. But don’t worry, they started buying BTC in November 2024, so they’ve had plenty of time to perfect their “buy high, hope for higher” strategy. Their largest purchase? 624 BTC for €60 million in June 2025. Because nothing says “financial prudence” like timing the market poorly.

Their average acquisition cost is €93,083 per BTC, which is, uh, interesting, considering BTC is currently trading at €57,982. But hey, at least they’re consistent-consistently overpaying. Maybe they’re just really into high-stakes gambling?

Read More

2026-02-16 13:12