Vaultz Capital, a publicly-listed company, has completed a £1 million fundraising to increase its Bitcoin reserves. The issuance of new shares is part of the company's strategy.
Fundraising and Share Issuance
Vaultz Capital announced the issuance of 6,060,607 new ordinary shares, each valued at one penny, raising a total of £1 million, equivalent to about $1.34 million. The share sale will be traded on the AQSE Growth Market, with admission scheduled for around July 17.
Company's Bitcoin Acquisition Strategy
The proceeds raised from the share sale will go towards operational costs and primarily for buying Bitcoin for the BTC Treasury strategy. CEO Alex Appleton expressed that the company looks forward to more fundraising efforts to build investor confidence in their new strategy.
Bitcoin Market and Projections
Currently, Bitcoin has reached a new all-time high, surpassing the $120,000 mark and approaching $123,000. As of July 14, Vaultz Capital holds 50 BTC with an average value estimated at $107,320. Following the announcement of the placement, Vaultz Capital shares rose by 2.01%.
Vaultz Capital is actively pursuing growth and plans to increase its Bitcoin reserves to enhance its asset portfolio. With rising Bitcoin prices in the market, the company has the potential to strengthen its financial standing.
