Bitcoin Treasury Corporation Acquires 292.80 Bitcoin for C$43.1 Million

Bitcoin Treasury Corporation, a Canadian public firm, has acquired 292.80 bitcoin for approximately C$43.1 million, marking a significant step in its strategy to build a robust digital asset treasury. The company raised $125 million through a brokered share offering at $10 per share, which it used to purchase the bitcoin. This acquisition is part of a broader plan to position bitcoin as both a long-term reserve asset and a crucial component of its revenue model, supporting its institutional loans business.

The company's shares are set to begin trading on the TSX Venture Exchange on June 30, following its reverse takeover of 2680083 Alberta Ltd. This merger allows Bitcoin Treasury to become a public company without undergoing a traditional initial public offering (IPO), utilizing 268 as a private shell vehicle specifically set up for this purpose. The offering involved multiple financial institutions, including Canaccord Genuity, Stifel, National Bank Financial Markets, BMO Capital Markets, and CIBC Capital Markets.

With the funds raised and the income resulting from the BTC purchase, Bitcoin Treasury aims to deliver institutional-grade services tied to the digital asset economy. The company is committed to disciplined risk management and creating shareholder value, positioning itself as a leader in bitcoin-backed financial solutions. The shares of the merged entity were first listed at C$10 on Thursday, with an immediate halt applied by the exchange.

This move by Bitcoin Treasury Corporation underscores the growing interest and investment in digital assets, particularly bitcoin, within the institutional financial sector. By acquiring a substantial amount of bitcoin and preparing for its trading debut, the company is not only diversifying its asset portfolio but also signaling its confidence in the long-term value and utility of bitcoin. This strategy aligns with the broader trend of corporations and financial institutions increasingly recognizing the potential of digital assets as a store of value and a means of generating revenue.