Bitcoin Treasury Corp. (BTCT)An institutional loan and liquidity services provider said it bought 292.80 bitcoin
for C $ 43 million ($ 31.6 million)Launch of an accumulation strategy aimed at building a treasure of robust digital assets.
The Toronto -based company said it saw Bitcoin as a long -term reserve asset and a crucial part of its income model, planning to use holdings to support its institutional loan business.
With the $ 125 million collected from an offer of recently completed negotiated shares and any income resulting from the purchase of BTC, Bitcoin Treasury aims to provide institutional degree services linked to the digital asset economy. He said he will focus on the disciplined risk management and the creation of shareholders’ value, since he positions himself as leader in financial solutions backed by Bitcoin.
The company’s shares will begin to quote on the TSX Venture Exchange on June 30, after its reverse acquisition of 2680083 Alberta Ltd. The actions of the fused entity were first listed in C $ 10 on Thursday with an immediate high applied by the exchange.
Although neither BTCT nor 268 actions were listed above, the merger is a corporate shortcut that allows BTCT to become a public company without a traditional OPI, using 268 as a private Shell vehicle specifically configured for this purpose.
The offer involved multiple financial institutions, including Canaccord Genuity, Stifel, National Bank Financial Markets, BMO Capital Markets and CIBC Capital Markets.
