Bitcoin Treasury Stock Update: BTCT Shares Resume Trading On TSX

Bitcoin Treasury Corporation (BTCT) is set to resume trading on the TSX Venture Exchange following a significant financing round, the corporation announced Thursday.

Trading of BTCT common shares is expected to commence Monday on the TSX Venture Exchange under the ticker symbol “BTCT,” with over 10 million shares deemed issued and outstanding. This exceeds the 10 million BTCT shares previously sold.

The relisting follows a brokered offering that secured gross proceeds of over CAD$125 million ($92 million).

As part of this financing, BTCT issued 426,650 shares at a CAD$10 per share price. Canadian securities regulations require investors to hold these shares for a four-month and one-day period (“lock-up”).

BTCT Uses Portion of Proceeds to Purchase Bitcoin

A portion of the funds raised will be used to acquire Bitcoin. According to the company, it intends to purchase approximately 292.8 BTC at an estimated cost base of around $31.5 million.

This represents BTCT’s initial substantial investment in BTC following the launch of its Bitcoin accumulation and institutional lending strategy.

The acquisition aims to build Bitcoin reserves to provide liquidity solutions for BTCT’s institutional lending platform. The company plans to announce the BTC per share value once the initial accumulation phase is complete.

BTCT’s adoption of Bitcoin echoes a broader trend among crypto-related firms increasingly viewing BTC as both a speculative asset and an operational tool for capital efficiency and lending.

Related: Bit Digital Plunges 15% After $150M Public Offering, Ethereum Pivot

Long-Term Holders Increase Accumulation of Bitcoin

BTCT’s Bitcoin purchase occurs amid a period of significant accumulation by long-term holders.

Crypto analytics platform CryptoQuant reported a 30-day record increase in Bitcoin held by entities for at least six months, noting a nearly 800,000 BTC increase despite recent price highs.

Contributor Darkfost of CryptoQuant highlighted this development as providing a key signal from long-term holders that could be relevant for trading strategies.