On Monday, The Blockchain Group unveiled its new name: Capital B. Alongside this rebranding, the Bitcoin Treasury Company plans to open a subsidiary in Abu Dhabi. Here’s an overview of all the latest developments.
The Blockchain Group is now known as Capital B
At the end of 2024, The Blockchain Group took a major step forward by confirming its ambitions to transform itself into a Bitcoin Treasury Company. Less than a year later, the company holds 1,955 bitcoins and intends to increase this number to 3,000 by the end of the year.
In line with this new activity, The Blockchain Group announced on Monday that it is rebranding and will now be known as Capital B:
The Company today announced that it will now operate under the name Capital B, marking a new stage in its evolution as Europe’s first Bitcoin Treasury Company.
This name change reflects the Company’s ambition since adopting its Bitcoin Treasury Company strategy on November 5, 2024, to increase the number of bitcoins per share on a fully diluted basis over time.
In line with this rebranding, the company’s website has been given a makeover, notably with a new dashboard providing access to various statistics, including its BTC purchase history:
Impressive stock market performance
To date, Capital B ranks as the 24th largest publicly traded company in terms of Bitcoin holdings, according to Bitcoin Treasury data.
Speaking of financial markets, the ALBG ticker, which previously referred to The Blockchain Group, is expected to be changed on Euronext and in the US once all procedures have been finalized.
After reaching an all-time high (ATH) of €5.96 per share, ALTBG shares corrected by more than 45% in just a few weeks:
Despite everything, the stock is still up 2,027% since November 4.
It should be noted, however, that this incredible performance is somewhat offset by the large number of shares issued to finance the purchase of bitcoins, a practice common to most crypto treasury companies. Over the period under review, the number of diluted shares rose from 85.1 million to 324, a multiple of 3.8.
With a market capitalization of €522.65 million, Capital B’s Bitcoin cash reserves, currently valued at €196.56 million, account for 37.6% of that capitalization.
In order to support its growth in recent months, the company also announced that it was engaged in “a process to create a Capital B subsidiary in Abu Dhabi.” However, we will have to wait a little longer to find out more about this new project.
