Bitcoin Treasury Corp Enhances BTC Holdings to 771, Plans Institutional Lending After $51 Million Acquisition
The Toronto-based Bitcoin Treasury Corporation has announced an expansion of its Bitcoin holdings to 771 BTC, aiming to leverage these assets for institutional lending.
What You Need to Know
- Bitcoin Treasury Corporation finalized the initial phase of its bitcoin acquisition, adding 478.57 BTC for $51 million.
- This investment elevates the company’s total bitcoin holdings to 771.37 BTC.
- Each share now represents approximately 0.0000634 BTC, with plans to lend portions of this treasury to trading desks and other counterparties needing immediate access to Bitcoin.
Overview of Bitcoin Treasury Corporation
A Canadian company focused on bitcoin-related services, Bitcoin Treasury Corporation has successfully completed the first stage of its buying campaign, acquiring an additional 478.57 BTC (approximately CAD $70 million) to total 771.37 BTC. The firm intends to offer part of its holdings to trading desks seeking quick cryptocurrency access. Recently shared data indicates that publicly traded companies collectively hold 841,715 BTC valued at over $90 billion, while private enterprises are estimated to control 290,878 BTC, equating to more than $31 billion worth of Bitcoin.
