Capital B builds Europe's first STRC-style bitcoin credit…

Paris-listed bitcoin treasury company Capital B is developing a BTC-backed credit instrument for the European market, modeled after Strategy's STRC preferred stock and Strive's SATA. Board director Alexandre Laizet revealed the project at BTC Prague, describing it as a direct response to Europe's regulatory and tax environment. Capital B currently holds 3,139 BTC on its balance sheet.

Why it matters

Europe has no equivalent to the U.S. bitcoin treasury credit products that have attracted significant institutional capital. Laizet framed the gap bluntly: the continent is "crippled by high taxes, crippled security issues, and old, unadapted regulations for the digital era." The instrument is designed to deliver double-digit yields with sub-double-digit volatility, drawing on BTC appreciation — which Laizet estimates at 30-60% annually — as the economic engine sustaining payouts. He drew a direct comparison to Strategy, which recently sold 32 BTC to fund STRC dividends before immediately buying 1,587 BTC, illustrating how BTC treasury mechanics can service yield obligations without eroding the position.

Market impact

Capital B, listed on Euronext Growth Paris under ticker ALCPB and backed by Adam Back and Fulgur Ventures, reported a 10-fold increase in investor interest in digital credit products year-over-year. The firm targets 15,000 BTC by end-2027 and 1% of total BTC supply by 2033. No launch timeline was disclosed, and Laizet acknowledged execution, custody, and BTC devaluation risks — though the company says it works exclusively with regulated banks.