Key Takeaways
- Bitcoin Treasury Capital completed a directed capital raise, generating approximately SEK 7.2 million in gross proceeds.
- The funding will be used to expand its Bitcoin holdings and support day-to-day operations.
Bitcoin Treasury Capital (BTC AB), a Swedish firm that holds Bitcoin as its core reserve asset, announced Tuesday it had executed a directed issue of 60,400 preference A shares, raising approximately SEK 7.2 million ($786,000) in gross proceeds.
The company plans to use the fresh capital to acquire additional Bitcoin and support ongoing operations, in line with its long-term strategy to increase Bitcoin holdings per share.
BTC AB currently holds 187 BTC, valued at around $16 million, following the execution of a Bitcoin-denominated, interest-free convertible loan in August. The company could expand its Bitcoin treasury to 271 BTC under the full convertible loan agreement.
Following the surge of interest in Bitcoin and digital asset treasury vehicles post-election, enthusiasm has cooled as firms reassess their strategies in response to heightened market volatility.
Accumulation has not stopped entirely, but the pace has slowed. Still, a handful of players, like Strategy and BitMine Immersion, continue to expand their holdings despite the slowdown.
Source: https://cryptobriefing.com/bitcoin-treasury-capital-raises-capital-acquire-bitcoin/
