Bitcoin Treasury Corp. (BTCT) has launched a plan to build a digital asset treasury by purchasing 292.8 Bitcoin worth $31.6 million. Based in Toronto, BTCT intends to hold Bitcoin as a long-term asset while also using it as part of its revenue model by leveraging it within its lending operations.

The company plans to use the funds raised from a $125 million equity sale, along with the income generated from its Bitcoin purchases, to invest in businesses related to the digital asset economy.

On June 30, the company’s shares will begin trading on the TSX Venture Exchange, with financial firms including Canaccord Genuity, Stifel, National Bank Financial Markets, BMO Capital Markets, and CIBC Capital Markets participating in the process.

This move was executed through a reverse takeover strategy.

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