Capital B launches perpetual credit instrument modeled after Strategy: a new era of corporate bitcoin accumulation
French investment company Capital B has announced plans to launch a perpetual credit instrument inspired by the STRC model used by Strategy. This decision marks another step in the institutionalization of Bitcoin as a corporate asset.
According to my data, the Capital B shareholder meeting to discuss this matter is scheduled for June 17. The company's Director of Bitcoin Strategy, Alexandre Leze, confirmed that a mandate will be put to a vote to increase the authorized capital to €5 billion, as well as to issue credit instruments with a nominal value of up to €100 billion. This is a colossal volume that could fundamentally change the firm's balance sheet structure.
The mechanism Capital B intends to implement is virtually identical to the .STRC model used by Strategy. As a reminder, .STRC is a perpetual preferred stock with floating yield. Its rate is adjusted so that the market price of the securities always remains near the $100 par value. This allows the company to attract long-term capital without fixed maturity dates, which is critically important for long-term Bitcoin accumulation.
As of June 1, Capital B and its subsidiary Capital B Luxembourg SA already hold 3,139 BTC. At current prices, this amounts to several hundred million dollars. However, given the plans to raise up to €100 billion, these figures could multiply several times over.
My expert assessment: This move by Capital B is not merely copying a successful model, but a signal that European corporations are beginning to actively use complex financial instruments for Bitcoin accumulation. If shareholders approve the mandate, we will see one of the largest cases of corporate accumulation of the first cryptocurrency in Europe. This could become a trigger for other companies, especially European ones, seeking ways to protect capital from inflation without resorting to traditional fiat instruments.