Goobit Group/BTCX has now started the execution of its Bitcoin Treasury strategy with an initial purchase of 10,6294 BTC. A week ago, the company raised 12.9 million Swedish kronor in new capital.
In parallel with the directed issue, the company's entrepreneur, Christian Ander, signed a convertible loan of SEK 5 million.
In a press release, the purchase is referred to as a historic milestone for Sweden's first bitcoin exchange.
“This first Treasury purchase is a natural development for BTCX. We have been at the forefront of bitcoin adoption in Sweden for over 14 years, and now we reflect our conviction directly in our balance sheet. Our long experience in trading and holding bitcoin since 2011 gives us a unique advantage in implementing this strategy,” says Christian Ander, entrepreneur and CEO of BTCX.
On August 14, the company announced that the first round of capital in the Bitcoin Treasury strategy was completed. The directed issue was oversubscribed by 106% and resulted in the issuance of 85,305,582 shares, equivalent to SEK 12.8 million. The oversubscription was due to strong investor interest, but was limited by a ceiling of maximum 30% dilution.
Goobit has also signed an agreement for a convertible loan with its main owner Blockchain AB, which is owned by Goobit's CEO Christian Ander. The agreement secures the company 12 months of operational and financial stability, and should support both its European expansion and Bitcoin Treasury strategy.
According to the agreement, Blockchain AB will provide a loan of 5 million Swedish kronor, paid out in bitcoin based on the current BTC/SEK exchange rate at the time of the transfer. The loan has a maturity of 12 months, is interest-free (0%), and matures one year after signing.
Da Goobit launched its Bitcoin Treasury strategy earlier August Christian Ander was interviewed by Kaupr. Footage of the video interview (in English) can be viewed below.
