Capital B Adds 13 Bitcoin (BTC) Below Cost as Holdings Reach 3,538

Capital B Adds 13 BTC Below Cost

Paris-listed treasury company Capital B has bought 13 additional Bitcoin (BTC) for €0.97 million, taking its total holdings to 3,538 BTC, the firm's investor-relations disclosure confirms. The latest tranche averaged €74,364 per coin — well beneath the €87,805 blended cost of a treasury assembled for €310.6 million — which is why each new purchase mechanically drags that average lower. Alongside the buy, the company reported a BTC Yield of 2.20% for the year to date, a metric tracking how much Bitcoin it holds per fully diluted share. Tracker data ranks the stash second among publicly traded Bitcoin treasuries, behind only Germany's Bitcoin Group SE at 3,605 BTC. Market value tells a rougher story: the company's own figures put the holdings' net asset value near €259.9 million at the prior day's close, leaving the treasury roughly €50.8 million underwater against the capital sunk into it. The accumulation model raises equity, deploys it into coins and reports accretion per share; when the purchase price sits below the existing average, the machine works as designed. Notably, the buy landed in a month when Fed hike bets erased $1.05 trillion from gold, yet Bitcoin held firm, adding roughly 7% over the past 30 days. The €74,364 execution shows the discount still available in European hours, and while 13 coins per tranche chips away at the €50.8 million gap slowly, the arithmetic is certain: every coin acquired beneath €87,805 narrows it. The approach mirrors, in corporate form, the logic of a strategic Bitcoin reserve — accumulate through volatility and let additions below cost basis improve the position over time.

TOBAM Shares Fund the Pipeline

Paris-based asset manager TOBAM supplies the cash under an at-the-market (ATM) agreement, an arrangement under which Capital B issues fresh shares whenever the fund requests them. Between September 14 and 22, three TOBAM funds took 172,978 shares at about €5.68 apiece — a 3.8% premium to the prior closing price. That premium matters: shares issued above the last close add cash per share without diluting holders below market, the condition under which share-funded accumulation stays accretive rather than destructive. Blockstream Capital Partners remains the largest shareholder at 18.67% of ordinary shares, and founder Adam Back — long associated with Bitcoin maximalism — holds a further 17.54% personally after committing about €7.6 million earlier in September. Execution and custody sit with Swissquote Bank Europe, which handled the trade and holds the coins as sole custodian, licensed under the EU's MiCA framework; the regulated wrapper is relevant for a company whose entire asset base is a single volatile coin. Listed shares, like a spot ETF, give public-market investors Bitcoin exposure without direct custody, though here the coins sit on one balance sheet. Earlier in September the firm made its largest purchase of the year — 376 BTC for about €25.3 million — and other corporate whales ran comparable share-funded strategies through a volatile month. The 13-coin tranche is small next to that 376-coin buy, but the sequence shows the strategy operating exactly as disclosed: regular accumulation funded by equity rather than operating cash. With attention shifting toward the October 2 payrolls print, TOBAM's appetite for new shares is now the variable that decides how fast the €87,805 cost basis grinds downward. Readers tracking the market in real time can follow live spot and futures prices on MEXC.

$84,022 Resistance in Focus

COINOTAG's proprietary 42-indicator composite S/R scoring engine rates the $84,022 resistance at 80/100, a confluence of Fibo 0.114, R1 and the ATR Upper band, with spot at $82,998 after a 2.13% daily slip. First support at $81,717 scores 77/100 via the Ichimoku Kijun and Bollinger middle band. Funding at 0.0028%, open interest of $15.8 billion and a 1.43 long/short ratio show leveraged longs still in control, consistent with a Fear and Greed reading of 74 (Greed). With RSI at 58.9 and a bullish MACD, the uptrend holds while $81,717 does; a daily close below it invalidates that view and opens $77,075, itself a strong 75/100 floor. Our Bitcoin Rainbow Chart guide offers longer-cycle context.