Bitcoin Treasury Corp Resumes TSXV Trading After $92M Raise & BTC Buy
bitcoin Treasury Corporation Resumes Trading on TSX Venture Exchange
BTCT Shares Available for Trading
bitcoin Treasury Corporation (BTCT), a Canadian firm specializing in bitcoin lending, is set to restart trading on the Toronto Stock Exchange (TSX) Venture Exchange. The company announced that its common shares will be available for trading starting Monday under the ticker symbol “BTCT,” with over 10 million shares currently issued and outstanding. Previously, BTCT had successfully sold more than 10 million shares.
This trading resumption follows a brokered offering that generated 125 million Canadian dollars (approximately $92 million) in gross proceeds. The company issued 426,650 shares priced at 10 Canadian dollars (around $7.32) each, with the financing bolstered by a concurrent capital raise. These shares will be subject to a holding period of four months and one day as per Canadian securities regulations.
Strategic bitcoin Acquisition
A portion of the funds raised will be allocated to bitcoin purchases. BTCT has announced the acquisition of 292.8 BTC, totaling around $31.5 million. This marks the company’s first significant bitcoin purchase as part of its strategy to accumulate bitcoin and offer institutional lending services. The firm aims to leverage its bitcoin holdings to provide liquidity solutions for its clients.
Following this acquisition phase, BTCT plans to disclose its initial bitcoin per share metric, which will help investors better understand the asset value associated with each share.
Growing Trend Among Long-Term bitcoin Holders
The recent bitcoin purchase by BTCT aligns with a broader trend of accumulation among long-term bitcoin holders. Data from CryptoQuant indicates that entities holding bitcoin for a minimum of six months have significantly increased their holdings, even as prices reach new highs.
The analytics firm reported that long-term holders have accumulated an additional 800,000 BTC, setting a new 30-day record. CryptoQuant contributor Darkfost highlighted this trend as a crucial indicator that traders should consider in their strategies.
Conclusion
bitcoin Treasury Corporation’s strategic moves reflect a growing trend in the cryptocurrency sector, where companies are increasingly viewing bitcoin not just as an investment but also as a vital tool for liquidity and lending. As BTCT resumes trading and expands its bitcoin reserves, it positions itself to capitalize on the evolving landscape of digital assets.
