  We construct a regular bound state of two extremal black holes in type IIB
supergravity with opposite charges. The bound state resembles the Schwarzschild
black hole from the asymptotics to the photon ring and has the same mass and
charges as the Schwarzschild black hole. On the one hand, we show that the
bound-state entropy admits a microscopic description in terms of branes and
antibranes in string theory. On the other hand, we demonstrate that the entropy
approaches half of the Schwarzschild entropy as the mass becomes significantly
larger than the Kaluza-Klein scales used to regularize the geometry. This opens
up the possibility of a brane/antibrane interpretation of the Schwarzschild
entropy in string theory.
