Capital B plays 10-to-1 share shuffle to court bigger Bitcoin fish 🐋

Capital B, Europe's second-largest Bitcoin treasury company, will carry out a 10-for-1 reverse stock split on Sept. 8 to broaden its institutional investor base. The Paris-listed company said the consolidation will reduce its outstanding share count to about 30.1 million from 300.7 million, with each new share replacing ten existing ones.

The reverse split will lift the par value per share to 0.80 euros ($0.90) from 0.08 euros, according to a Monday statement from Capital B, which trades on Euronext Growth Paris. The company said the conversion will be automatic and will not change the aggregate value of investors' holdings.

Capital B said the move is intended to support its institutional development and appeal to a wider pool of investors. The company also noted that shareholders last month approved up to 105 billion euros in financing capacity to back its Bitcoin acquisition strategy.

Capital B holds 3,139 $BTC at the time of writing, according to the company's disclosure. Germany-based Bitcoin Group SE leads European corporate holders with 3,605 BTC, per data from Bitcoin Treasuries. The company recently expanded its reserves with a $15.2 million Bitcoin purchase, as previously reported.