Bitcoin Treasury Corporation Returns to TSX Venture Exchange
Canadian Bitcoin lender Bitcoin Treasury Corporation (BTCT) announced it returned to trading on the Toronto Stock Exchange Venture Exchange on Monday. The listing follows the successful capital raise and shows the firm’s renewed efforts in Bitcoin-backed services.
BTCT’s shares will be traded under the ticker “BTCT” with over 10 million common shares already issued and sold.
$92 Million Raise Precedes BTC Accumulation
Ahead of resuming trading, BTCT finished a 125 million Canadian dollar ($92 million) raise through brokered offering. It issued 426,650 shares at CA$10 (US$7.32) per share with a standard four-month and one-day hold period pursuant to Canadian securities legislation.
The raise positions BTCT to execute on its updated Bitcoin accumulation and institutional lending strategy.
Company Buys 292.8 BTC for $31.5 Million
With some of the funds raised, BTCT purchased 292.8 BTC at a cost of approximately $31.5 million. The purchase is the company’s first large crypto acquisition since shifting its focus to a Bitcoin-backed reserve and lending business model.
BTCT will introduce a Bitcoin-per-share metric to give investors more insight into the underlying asset value of its shares.
Strategic Pivot Reflects Industry-Wide Trend
BTCT is following a broader industry pattern of cryptocurrency companies leveraging Bitcoin for institutional liquidity and capital efficiency solutions.
Long-Term Holders Push BTC Accumulation to New Heights
BTCT’s move is within the context of a broader market trend. According to CryptoQuant, long-term Bitcoin holders—addresses that have been inactive for six months or more—have accumulated 800,000 BTC in total holdings over 30 days, a record pace.
CryptoQuant analyst Darkfost maintains that this activity has a vital message to give to market participants and must inform present-day trading decisions.
