Swedish Treasury company BTC AB is now embarking on its “pure play” Bitcoin strategy, having gone public on Tuesday, bought 147 BTC and made a new directed issue of 15 MSEK. The goal is to increase Bitcoin per share.
When Bitcoin Treasury Capital AB was listed on Tuesday, the price fluctuated between 371 and 700 SEK per share, while prices on Wednesday were between 460 and 588. Wednesday's closing price of 482 gives the company a stock market capitalization of SEK 346.6 million. The Bitcoin exchange rate also reached a record high of 112,000 USD during Wednesday.
On Wednesday, the company also raised SEK 15 million in a directed issue from Darius Stenberg. As of before, BTC AB had 2 million MSEK in cash in addition to 147 BTC purchased at the end of June. The company is thus engaged in its “Bitcoin pure play”, where they will work actively both on issues and capital impairments combined with active management of their Bitcoin holdings, with the aim of increasing the number of Bitcoins per share.
The plan is also to use the new 15 million for Bitcoin purchases.
“We are excited to get started and it is now time to execute our business plan with an unwavering focus on increasing Bitcoin per share. We intend to use the entire amount raised to buy more Bitcoin, thus increasing the company's Bitcoin per share,” commented Christoffer De Geer, CEO of the company.
We video-interviewed De Geer in late April, when the company announced its Bitcoin Treasury strategy. The interview is in Norwegian/Swedish.
Swedish Treasury company BTC AB is now embarking on its “pure play” Bitcoin strategy, having gone public on Tuesday, bought 147 BTC and made a new directed issue of 15 MSEK. The goal is to increase Bitcoin per share.
When Bitcoin Treasury Capital AB was listed on Tuesday, the price fluctuated between 371 and 700 SEK per share, while prices on Wednesday were between 460 and 588. Wednesday's closing price of 482 gives the company a stock market capitalization of SEK 346.6 million. The Bitcoin exchange rate also reached a record high of 112,000 USD during Wednesday.
On Wednesday, the company also raised SEK 15 million in a directed issue from Darius Stenberg. As of before, BTC AB had 2 million MSEK in cash in addition to 147 BTC purchased at the end of June. The company is thus engaged in its “Bitcoin pure play”, where they will work actively both on issues and capital impairments combined with active management of their Bitcoin holdings, with the aim of increasing the number of Bitcoins per share.
The plan is also to use the new 15 million for Bitcoin purchases.
“We are excited to get started and it is now time to execute our business plan with an unwavering focus on increasing Bitcoin per share. We intend to use the entire amount raised to buy more Bitcoin, thus increasing the company's Bitcoin per share,” commented Christoffer De Geer, CEO of the company.
We video-interviewed De Geer in late April, when the company announced its Bitcoin Treasury strategy. The interview is in Norwegian/Swedish.
