Bitcoin Treasury Corporation (BTCT), a Canadian Bitcoin lending company, announced the resumption of trading operations on TSX Venture Exchange.
Resumption of Share Trading
Bitcoin Treasury Corporation will officially resume trading its shares on TSX Venture Exchange starting June 30 under the ticker 'BTCT'. Currently, over 10 million shares are outstanding, which were sold previously. The resumption of trading follows a brokered offering that raised 125 million Canadian dollars ($92 million) in gross proceeds.
Bitcoin Purchase and Company Strategy
A portion of the raised funds was used to purchase 292.80 BTC at a total cost of around $31.5 million. This marks the company's first major BTC purchase after launching a Bitcoin accumulation and institutional lending strategy. In the future, BTCT aims to use its Bitcoin reserves to offer liquidity solutions to clients and plans to publish its Bitcoin per share figure once the initial acquisition phase concludes.
Trends Among Long-Term Bitcoin Holders
The company's Bitcoin purchase comes amid a broader accumulation trend among long-term holders. According to data from CryptoQuant, entities holding BTC for at least six months without selling have increased their holdings by 800,000 BTC in a new 30-day record. This signals long-term holders' commitment to the asset and could influence trading strategies.
The resumption of trading activities and Bitcoin accumulation highlights the growing interest in cryptocurrency as a liquidity tool and strategic investment, with key signals from long-term holders.
