Bitcoin Treasury arrives at the Stock Exchange with a “A Lo Saylor” model
Bitcoin Treasury Corporation will begin to quote on the Canadian Stock Exchange TSX Venture Exchange (TSXV) on June 30 under the BTCT symbol. The company debuts with a model focused exclusively on the accumulation of Bitcoin (BTC) as a strategic asset.
The Corporation announced the initial acquisition of 292.80 BTC, for a total of 43.1 million Canadian dollars (USD 31.5 million). This purchase, made on June 26, marks the official start of its corporate policy focused on Bitcoin.
The Bitcoin Treasury debut in the Canadian stock market is produced in the midst of a growing trend between public contribution companies that adopt Bitcoin as a reserve assetfollowing the exemplary model of Strategy and its executive president, the Bitcoiner Michael Saylor.
This approach implies the active accumulation of BTC as the basis of the business model. Until now, more than 70 companies listed in the stock market maintain Bitcoin in their balances, as reported by cryptoics.
Bitcoin Treasury is launched with an initial capital structure of 10,075,080 shares issued and in circulation. Through a public offer, the company placed 426,650 new shares at a unit price of 10 Canadian dollars, which allowed him to raise a gross total of 125 million Canadian dollars.
The operational agents of the operation included Canaccord Genuity and Stifel as co-lders, along with National Bank Financial Markets, BMO Capital Markets, CIBC Capital Markets, among others.
The capital collected It will serve to continue with the BTC accumulation plan and the development of financial products based on their reservations. Among them, there are institutional loan solutions backed by Bitcoin, with an focus on liquidity, safety and risk management.
With this proposal, Bitcoin Treasury is positioned as a company that does not hide its purpose. It does not offer software, it does not develop technology or peripheral services. Its model is direct: acquire, guard and accumulate bitcoin as a business axis.
