Published: 8/14/2026 3:13:08 PM

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Finwire about B Treasury Capital AB: Affärsvärlden issues a Sell recommendation for both of BTC"s share classes

Affärsvärlden issues a Sell recommendation for the crypto company BTC's two share classes, the B share and the recently listed preference share. This emerges from a comment on Friday. "A company with zero revenue has recently listed a preference share on Spotlight. The only pool of security is found in the company's balance sheet, which contains bitcoin worth just over SEK 100 million. Through their voting-rights-rich A shares, the founders hold 99.99 percent of the votes, while corporate governance is structured for tricky conflicts of interest," the newspaper writes. The founders control a unique toolbox for transferring value between different share classes, the newspaper notes. "The preference share may be the lesser of two evils among the two listed share classes, but both receive a Sell recommendation and should be avoided. The fact that the preference share is also trading (SEK 128) above the redemption price (SEK 120) may not be the biggest problem, but is another detail that makes a Sell recommendation obvious," Affärsvärlden writes in its conclusion.

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