Bitcoin Treasury Corporation (TSXV: BTCT) has announced the completion of its share offering and plans for Bitcoin accumulation. The company raised $125 million and aims to use the accumulated assets for institutional lending.
Completion of BTCT's Share Offering
BTCT successfully closed a brokered offering of 426,650 common shares at $10.00 each, raising gross proceeds of $125 million. The company's shares are eligible for inclusion in Canadian tax-advantaged accounts, although they remain subject to a statutory hold period of four months.
Bitcoin Accumulation Plan
Following the financing, BTCT acquired 292.8 BTC for a total price of CAD $43.1 million. This purchase marks the start of the company’s Bitcoin accumulation program, with plans to disclose the Bitcoin per Share (BPS) metric upon reaching the first benchmark.
Growing Interest in Bitcoin Among Companies
In addition to BTCT, other companies are also increasing their Bitcoin holdings. Metaplanet Inc. acquired 1,234 BTC, while ProCap BTC, led by Anthony Pompliano, expanded its holdings by 1,208 BTC, reflecting a growing interest in Bitcoin on corporate balance sheets.
BTCT and other companies actively develop their Bitcoin accumulation strategies, highlighting the growing interest in this asset in the market. The recent share offering and Bitcoin acquisition may open new opportunities for institutional investment.
