Bitcoin Treasury Corp. (Btct)An institutional lending provider and service of liquidity, said it bought 292.80 Bitcoin
for c $ 43 million ($ 31.6 million), launching an accumulation approach aimed at developing a stable digital asset treasury.
The Toronto-based company said it viewed Bitcoin as both a long-term property reserve and an integral part of its revenue model, planning to use handles to support the institutional loan business.
Using $ 125 million raised from a recently completed brokered sharing offering and any income resulting from the BTC purchase, the Bitcoin Treasury aims to deliver grade-institutional services tied to the digital asset economy. It said it would focus on managing the risk of risk and creating the value of the shareholder because it positioned itself as a leader in solutions to the financial supported by Bitcoin.
The company’s sharing is set to start trading at TSX Venture Exchange on June 30, following this Reverse Takeover of 2680083 Alberta Ltd. The shares of the joint entity were first listed on C $ 10 on Thursday with immediate stops applied by the exchange.
Although the BTCT or 268 shares has been listed previously, the integration is a corporate shortcut that allows the BTCT to become a public company with no traditional IPO, using 268 as a private vehicle set up specifically for this purpose.
The offer is involved in many financial institutions including canaccord genuity, stifel, national bank financial markets, BMO capital markets, and CIBC capital markets.
