Capital B Adds 376 BTC as Per-Share Bitcoin Stays Flat
The flat ratio isn't a Capital B quirk; it's the structural risk every share-issuing Bitcoin treasury company carries when financing terms can't outpace dilution.
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The flat ratio isn't a Capital B quirk; it's the structural risk every share-issuing Bitcoin treasury company carries when financing terms can't outpace dilution.
The planned purchase would lift Capital B's treasury to 3,521 BTC, while warrants could cut a 1% holder's stake to 0.65%.
The immediate BTC-per-share math is essentially flat at the post-placement level, but full exercise of the four warrants attached to each new share would cut shareholder Bitcoin exposure by 24.1%,…
A French public-company treasury adding 8-figure BTC with Blockstream's CEO in the cap table is another data point in the European institutional-bid stack — small individually, structural in…