Key Takeaways:
- BitBridge to go public with the ticker BTTL by the end of Q3 and plans to uplist on NASDAQ in the future.
- The company announced a new product, “Bitcoin Respect Loan,” and a marketing campaign sponsoring high-profile college football teams, tapping into millions.
- Publicly listed companies represent the largest category of Bitcoin holders, accounting for approximately 56% of all entities.
The surge of Bitcoin (BTC) based treasury companies going public hits the markets again as Florida-based BitBridge Capital Strategies announced the successful completion of its merger with Green Mountain Merger Inc.
BitBridge will begin trading under the ticker symbol BTTL in the OTC markets by the end of the third quarter and plans to uplist on NASDAQ later on, according to a press release from BitBridge.
Unlike other publicly listed companies, BitBridge has no other legacy operations, solely focusing on BTC treasury operations and BTC-backed loans. BitBridge has announced a new product and a marketing campaign.
According to its press release, BitBridge announced the “Bitcoin Respect Loan”, which essentially treats BTC as collateral for the loans. The firm believes BTC should be treated as a “long-term sound money asset” rather than a volatile risk.
The BTC-backed loans will feature multi-year terms and interest rates similar to traditional mortgages, a stark contrast to the high rates and “predatory terms” of existing market offerings. Through the Bitcoin Respect Loan, borrowers will be able to access liquidity without having to sell their Bitcoin, while also producing long-term revenue for BitBridge.
Explaining the philosophy behind the product, CEO Paul Jaber mentioned, “At BitBridge, we say ‘Bitcoin is Life’ and our loan program is designed to give you the best life possible.”
In terms of marketing outreach, BitBridge is promoting itself to the mainstream audience with its trademark slogan “Bitcoin is Life™”. This campaign aims to remind Americans of a way of life that existed before decades of fiat currency, as inflation has caused a decrease in the standard of living for many. Bitcoin is Life™ aims to send out a message that saving wealth for future generations is easily possible with BTC.
The initial push will include sponsoring major college football teams during this fall and a new educational podcast, “StraightUpBitcoin,” to bring its message to a mainstream audience. BitBridge plans to tap into the college football audience, educating millions of people about BTC’s value proposition.
Publicly listed companies now form the majority of entities holding BTC. Public companies hold over 900K BTC, representing 163 of the total 289 entities and accounting for 56% across public firms, ETFs, governments, and private companies etc. Out of the 900K BTC held by public companies, Strategy holds over 628K BTC.
