On June 30, 2025, Bitcoin Treasury Corporation ($BTCT.V) officially listed on the TSX Venture Exchange, giving Canada its first pure-play Bitcoin treasury strategy.

BTCT is a publicly listed Canadian company dedicated to accumulating and deploying Bitcoin for long-term shareholder benefit. We operate with a clear, singular objective: grow Bitcoin per share.

Bitcoin has evolved over the last decade into a globally recognized digital store of value – scarce, decentralized, and resistant to censorship or debasement. In a world defined by monetary expansion, rising sovereign debt, and eroding trust in traditional financial systems, Bitcoin offers a radically different foundation: one built on absolute scarcity and open-source transparency.

Unlike fiat currencies that can be inflated or manipulated by central banks, Bitcoin’s supply is capped at 21 million and its issuance schedule is fixed and verifiable. This makes it uniquely suited for long-term value preservation. Bitcoin has outperformed nearly all asset classes over the last ten years, attracting a growing number of institutional investors, public companies, and sovereign entities.

As record-high inflation, geopolitical instability, and underperformance of traditional defensive assets like investment-grade bonds continue to challenge conventional portfolio construction, many are rethinking what it means to be diversified. Bitcoin is no longer viewed as speculative – it’s increasingly seen as foundational.

Why Build a Company on Bitcoin?

Bitcoin is more than just a reserve asset – it is the foundation for a new financial architecture. Building a company on Bitcoin means aligning operations, incentives, and treasury strategy with a system defined by transparency, scarcity, and incorruptibility.

Traditional companies operate in fiat-denominated environments that are prone to inflation, regulatory manipulation, and systemic risk. Their performance is often tethered to central bank policies and legacy financial infrastructure. In contrast, a Bitcoin-native company can focus on long-term value creation without the distortions of a fiat framework.

By denominating our performance in Bitcoin per share (BPS) and holding Bitcoin as our primary asset, we remove the noise of currency debasement and focus on generating real value. This structure provides clarity and alignment between shareholders, management, and mission.

Building on Bitcoin isn’t just a symbolic choice, it’s a strategic advantage. It offers a better foundation for corporate governance, a clearer measure of value, and a treasury strategy that is fundamentally aligned with the future.

Why Canadians Need a Bitcoin Treasury Company

Until now, Canadian investors have had limited tools to access Bitcoin through the public markets. ETFs provide valuable exposure to the price of Bitcoin, but they do not operate as businesses that can deploy Bitcoin as a productive treasury asset. Foreign securities are less accessible, often come with added currency risk, and don’t align with Canadian regulatory or tax frameworks.

BTCT changes that. For Canadian investors constrained by domestic equity mandates – such as pensions, foundations, or certain institutional strategies – ETFs and foreign equities may fall outside of their permitted holdings. BTCT provides a compliant, TSX Venture-listed equity that allows for direct Bitcoin exposure within Canadian equity allocations. It is designed to fill this gap, making Bitcoin accessible to investor segments that previously had no viable path.

As Canada’s first Bitcoin-native public company, BTCT enables direct exposure to Bitcoin in a familiar equity format – accessible through any brokerage, eligible for registered accounts, and backed by a clear growth mission: Bitcoin per share.

This gives Canadian investors a new tool in portfolio construction: one that’s aligned with the future of money.

Mission: Bitcoin Per Share Growth

BTCT has a singular mission: to grow Bitcoin per Share (BPS).

Unlike most public companies, our focus isn’t on earnings per share (EPS). Instead, we prioritize BPS as our primary metric. For example, if we hold 1,000 Bitcoin and have 10 million shares outstanding, our BPS would be 0.0001. This number tells investors exactly how much Bitcoin each share represents – providing a direct and transparent measure of long-term value. EPS and BPS both ask: how much value is my share generating? But EPS is denominated in fiat currency, which is steadily losing purchasing power…

BTCT’s structure isn’t designed to outperform inflation – it’s designed to make inflation irrelevant. We measure value in Bitcoin because we believe the future will too. Earnings per share is a legacy metric. Bitcoin per share is our standard.

Our corporate structure is intentionally straightforward, promoting long-term alignment with shareholders. Investors benefit from transparency around our holdings, strategies, and rationale behind each action.

Differentiators and Core Principles

We are a dedicated Bitcoin accumulation company.

BTCT focuses exclusively on Bitcoin. This single-asset strategy avoids distractions from unrelated business lines and allows us to clearly measure success in Bitcoin per share.

Holding Bitcoin is just the beginning. BTCT will deploy its Bitcoin through institutional-grade lending, liquidity services, and collateral solutions – transforming a passive treasury into a productive asset while retaining full Bitcoin exposure. These opportunities will grow alongside Bitcoin’s adoption as a global financial settlement network.

Bitcoin is not just a financial asset – it is the base layer for a new financial system.

Bitcoin is the apex asset: decentralized, permissionless, and our engine for value creation.

This is just the beginning.

Meet the Team: Deep Experience, Clear Vision

BTCT’s leadership has a proven track record in shaping institutional engagement with digital assets. Their experience – from initial concept to operational infrastructure—underpins the BTCT strategy.

Elliot Johnson, CEO, Bitcoin Treasury and CIO and COO at Evolve ETFs, a leading Canadian independent issuer with $7.5B in AUM. In 2021, he launched Canada’s first Bitcoin and Ethereum ETFs. Under his leadership, Evolve’s crypto products grew to over $300 million in assets, supported by institutional-grade custody and daily liquidity. His 25-year career spans major firms including Fiera Capital and GMP Capital.

Kaitlin Thompson, CFA, COO of Bitcoin Treasury and Vice President of Product Strategy at Evolve ETFs, has developed innovative financial products across traditional and crypto markets. Her background in product strategy, execution, and business development supports BTCT’s treasury and operational strategy.

Keith Crone, CMO, Bitcoin Treasury and CMO at Evolve ETFs, brings 25+ years of experience in financial services. He has led investor communications and distribution strategies for multi-billion-dollar firms. Keith leads BTCT’s brand strategy and investor engagement.

Heather Sim, CFO and Corporate Secretary, brings deep expertise in financial reporting, compliance, and governance. A Chartered Professional Accountant, Heather is President of Treewalk (formerly ACM Management Inc.), where she supports public companies and those seeking to go public in navigating Canadian and U.S. regulatory markets. She has served as CFO for multiple public issuers in the blockchain and software sectors, including DMG Blockchain Solutions Inc. and VSBLTY Groupe Technologies Corp.

Together, they combine institutional discipline with a forward-thinking, Bitcoin-native approach to treasury management.

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Investors are not to construe the contents of this blog as legal, tax, accounting or investment advice. Investors should be aware that the acquisition of securities of the Bitcoin Treasury Corporation (“BTCT” or the “Corporation”) will have tax consequences, whether adverse or otherwise. Such tax consequences are not described herein. Prior to investing in the securities of Bitcoin Treasury Corporation, Investors should consult with their legal, investment, accounting and tax advisors to determine the consequences of an investment in the securities of the Corporation, including with respect to their particular circumstances.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this blog.

Cautionary Note Regarding Forward-Looking Statements

This blog includes certain “forward-looking statements” under applicable Canadian securities legislation. Any statements that involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events or performance (often but not always using phrases such as “expects” or “does not expect”, “is expect”, “anticipates” or “does not anticipate”, “plans”, “budget”, “scheduled”, or variations of such words and phrases) are not statements of historical fact and may be forward-looking information and are intended to identify forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include, but are not limited to: business integration risks; the Corporation’s operating results will experience significant fluctuations due to the highly volatile nature of Bitcoin; the Corporation operates in a heavily regulated environment and any material changes or actions could lead to negative adverse effects to the business model, operational results, and financial condition of the Corporation; evolving cryptocurrency regulatory requirements and the impact on the Corporation’s business plan; Bitcoin value risk; reliance on key personnel; implementation of the Corporation’s business plan; lack of operating history; competitive conditions; de banking and financial services risk; anti money laundering and corrupt business practices; additional capital; financing risks; global financial conditions; insurance and uninsured risks; cybersecurity risks; changes to bank fees or practices, or payment card networks; audit of tax filings; market for the Bitcoin Treasury Shares; market price of the Bitcoin Treasury Shares; conflicts of interest; internal controls; tariffs and the imposition of other restrictions on trade could adversely affect the Corporation’s business; risk of litigation; pandemics or other health crisis; acquisitions and integration; risk of dilution of Bitcoin Treasury securities; dividend policy; Bitcoin price volatility; custodial risks; technological vulnerabilities; Bitcoin transactions are irreversible and may result in significant losses; short history risk; limited history of the Bitcoin market; potential decrease in the global demand for Bitcoin; economic and political factors; top Bitcoin holders control a significant percentage of the outstanding Bitcoin; availability of exchange traded products liquidity; security breaches; the requirements that accompany being a publicly traded company may put a strain on the Corporation’s resources, divert attention from management, and adversely affect its ability to maintain and attract management and qualified board members; liquidity risk; leverage risk; and share price fluctuations.

Although management of the Corporation believes that the expectations reflected in such forward-looking statements are based upon reasonable assumptions and have attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements and information contained in this blog are made as of the date of the blog and the Corporation does not undertake any obligation to update publicly or to revise any of the included forward -looking statements or information, whether as a result of new information, change in management’s estimates or opinions, future circumstances or events or otherwise, except as expressly required by applicable securities law.

The TSXV has neither approved nor disapproved the contents of this blog.