Bitcoin Treasury Corporation (BTCT) announced that it had completed its initial phase of the Bitcoin Acquisition Plan, buying 478.57 bitcoins at a total price of $70 million (approximately $51 million). The acquisition brought the total number of bitcoin held by the company to 771.37.
According to GlobeNewswire and Agrail, Bitcoin Treasury Corporation disclosed on 27 June that it had purchased 478.57 bitcoins at $70 million, at an average purchase price of approximately $146,300 (approximately $10.65 million) per bitcoin. This acquisition is part of the BTCT Digital Asset Reserve strategy, which aims to enhance the stability of corporate asset liabilities by holding Bitcoin as a long-term value for assets.
It is noteworthy that GTT has previously accumulated bitcoin assets through multiple rounds of financing and acquisitions. According to CoinDes, the company had a previous round of $125 million in financing and had purchased 292.8 bitcoins with some of its assets at a total cost of approximately $43.1 million. This acquisition of $70 million further expanded its hold and demonstrated the firm confidence in the long-term value of the Bitcoin BTCT.
Bitcoin Treasury Corporation, a Canadian-based listed company, focuses on developing a digital asset reserve strategy by holding Bitcoin as a core asset. Its business model includes the regular acquisition of Bitcoin as the main reserve asset on the company ‘ s balance sheet, similar to the strategy of companies such as MicroStrategy. This model aims to create value for shareholders by taking advantage of the inflation-resistant nature and long-term appreciation potential of Bitcoin.
According to CryptoTimes, BTCT plans to introduce a bitcoin-guaranteed lending service to provide low-cost financing to customers using its Bitcoin assets. This business model not only increases corporate revenue, but may also attract more institutional investors to participate in encrypted currency markets. BTCT will resume trading at the Toronto Stock Exchange (TSX Venture Exchange) on 30 June 2025, with the stock code BTCT. The acquisition and financing provided a strong incentive for its return to capital markets.
