Capital B launches a perpetual instrument similar to Strategy: a new era of corporate bitcoin accumulation
French investment company Capital B has announced plans to introduce a credit instrument modeled after Strategy's perpetual preferred shares (.STRC). This decision marks another step in the institutionalization of bitcoin as a corporate asset.
According to internal documents, a shareholder meeting on this matter is scheduled for June 17. The agenda includes a key mandate: increasing the authorized capital to €5 billion and issuing credit instruments with a nominal value of up to €100 billion. These funds will be directed exclusively toward accelerating Capital B's bitcoin strategy.
The .STRC model, developed by Strategy, consists of perpetual preferred shares with floating yields. Their rate is dynamically adjusted so that the market price of the securities remains close to the $100 par value. This provides a stable and predictable capital-raising mechanism without rigid maturity dates, making it ideal for long-term bitcoin accumulation.
As of June 1, the total reserves of Capital B and its subsidiary Capital B Luxembourg SA amounted to 3,139 BTC. The launch of the new instrument will allow the company to significantly increase this figure without diluting existing shareholders' stakes through traditional additional share issuances.
My analysis shows that this move by Capital B is not merely a replication of a successful strategy but a signal of market maturity. If the .STRC mechanism proves its effectiveness outside the United States, we will witness a surge in the number of public companies using perpetual debt instruments to accumulate bitcoin. This could fundamentally alter the demand structure for the leading cryptocurrency, turning corporate balance sheets into a powerful driver of its long-term growth.