Canadian bitcoin loan company Bitcoin Treasury (BTCT) will officially resume trading on the Toronto Stock Exchange (TSX) Venture Exchange, a rising TSX company.
company Announce On Thursday, the stock will trade freely from the exchange rate under “BTCT” on Monday and issue more than 10 million shares. The company has sold more than 10 million shares of BTCT shares.
The deal recovery was a total revenue raised by C$125 million (C$92 million) after a promotional product.
BTCT issued 426,650 shares at a price of 10 ca $ ($7.32) and was backed by raising funds at the same time. Under the Canadian Securities Act, the holding period of shares is four months and one day.
Bitcoin Treasury Company Buys 292.8 BTC
Part of the salary increase is also used to buy Bitcoin (BTC). According to the company, it purchased 292.8 BTC for a total cost of about $31.5 million.
This marks the company’s first major BTC purchase since launching its Bitcoin accumulation and institutional lending strategies. The company hopes to use its Bitcoin reserves to provide liquidity solutions to its customers.
The company said it plans to release its initial Bitcoin per share figures after this acquisition phase ends, aiming to give investors a clearer understanding of the value of the underlying asset per share.
Bitcoin finance companies’ strategies reflect the growth trend of cryptocurrency companies regarding Bitcoin as a speculative asset and a tool for liquidity, lending and capital efficiency.
Related: Ethereum Pivot drops 15% after BIT Digital Pluns’ $150 million public offering
Long-term holders stack 800,000 BTC
Among long-term Bitcoin holders, the Bitcoin purchase trend of lending companies is in a broader accumulation trend.
According to CryptoQuant, entities that hold BTC for at least six months are not sold Double the assets Despite seeing new price highs.
The analysis firm said supply increased by 800,000 BTC, a 30-day record for long-term Bitcoin holders.
CryptoQuant contributor Darkfost said the development brought a “critical signal” for long-term holders that could be incorporated into any trading strategy.
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