Capital B, a French company that holds Bitcoin on its balance sheet, is asking shareholders to approve a nearly $122 billion fundraise. The money would go toward expanding its Bitcoin holdings. The proposal lands on the ballot at an upcoming Ordinary and Extraordinary General Meeting.
The $122 billion plan
The proposed raise is massive by any standard. It dwarfs most corporate capital raises. If approved, it could give Capital B one of the largest Bitcoin war chests in the world. The company hasn't specified how many Bitcoin it intends to buy — only that the proceeds will be used to increase its holdings.
Shareholders get the final say
Capital B will put the proposal before shareholders at an Ordinary and Extraordinary General Meeting. That means investors will decide whether to authorize the issuance of new shares or debt to raise the capital. The meeting date hasn't been announced yet. If shareholders vote no, the plan dies.
What comes next
Capital B has not released a timeline for the meeting. Shareholders will receive voting materials once the date is set. For now, the company's future Bitcoin holdings rest on that single vote.
