RialCenter, a Canadian firm focused on bitcoin-related services, has completed the first phase of its bitcoin purchasing initiative, acquiring 478.57 bitcoin for CAD $70 million ($51 million) and increasing its total holdings to 771.37 BTC.
The acquisition translates to approximately 0.0000634 BTC per fully diluted share. The Toronto-based company intends to lend part of its BTC treasury to trading desks and other entities requiring immediate access to the cryptocurrency.
This strategy resembles that of many other firms adopting bitcoin as a treasury reserve asset.
Publicly traded companies now hold a cumulative total of 841,715 BTC valued at over $90 billion, while private firms are estimated to possess 290,878 BTC worth over $31 billion.
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