1/ $ALCPB has been volatile. Bitcoin has been volatile. The share price has swung from âŹ0.265 to âŹ5.96 in 12 months. None of that changes one single fact. đ§”
2/ Every single acquisition Capital B has made since November 2024 has been accretive to BTC per fully diluted share. Every one. Without exception.
3/ This is what BTC Yield means. Not a return on investment. Not a dividend. A disciplined, measurable commitment: each capital raise, each conversion, each new share issued â must result in MORE Bitcoin per share than before.
4/ When $ALCPB traded at âŹ5.96, Capital B raised capital and bought BTC. Accretive. When it traded at âŹ0.68, Capital B raised capital and bought BTC. Still accretive. The price of the share is irrelevant to the discipline of the model.
5/ Same logic applies to BTC price. Capital B has bought at âŹ55,000/BTC. At âŹ92,000/BTC. At âŹ65,000/BTC. The entry price of BTC does not determine whether an acquisition is accretive. The ratio does: how much BTC per share did you add?
6/ The metric that matters: 730 satoshis per fully diluted share today. That number has moved in one direction since inception. Up. Systematically. Regardless of market conditions.
7/ BTC Yield 2026 YTD: 1.25%. That means every shareholder of $ALCPB owns 1.25% more Bitcoin per share than they did on January 1st â without buying a single additional share.
8/ This is the entire thesis in one sentence: Capital B does not speculate on the price of Bitcoin. It accumulates Bitcoin per share. Relentlessly. In every market condition.
9/ Noise: share price volatility, BTC corrections, macro headwinds, dilution fears. Signal: satoshis per share, moving up, every quarter, since day one.
10/ The question is never âwhere is the share price today?â The question is always âhow many satoshis does each share represent?â At Capital B, that answer has only ever gone in one direction. $ALCPB $BTC
The silver market is heading for a 6th consecutive annual structural deficit:
The global silver deficit is projected to widen +15% YoY in 2026, to 46 million troy ounces.
Since 2021, global silver stocks have been depleted by a cumulative 762 million troy ounces, raising the risk of another liquidity crunch in physical silver markets.
This comes as industrial silver fabrication is estimated to fall -3% YoY to a 4-year low, with the Iran War weighing on global growth and threatening further demand losses.
Coin and bar demand is expected to rise +18% YoY, supported by a recovery in US purchases, partially offsetting the industrial weakness.
Meanwhile, total global silver supply is projected to decline -2% YoY, as miners pull back on production commitments made during last year's price surge.
The silver market has almost never been this tight.