Belgravia Hartford Secures $1 Million to Grow Bitcoin Treasury

In Canada, strategies involving Bitcoin treasuries are gaining traction among businesses. Belgravia Hartford, a publicly listed investment entity based in Toronto, is bolstering its reserves by increasing its capital.

According to a release dated June 26, Belgravia Hartford has accessed another $1 million from its credit facility with Round13 Digital Asset Fund, which specializes in blockchain investments.

This raises the total amount utilized to $1.5 million, all earmarked for acquiring Bitcoin (BTC) as part of the firm’s ongoing treasury strategy. The purchases will occur through the regulated OTC desk of the Canadian cryptocurrency exchange, Coinsquare.

Recently, Belgravia has executed multiple Bitcoin transactions, including acquiring approximately 1.5 BTC for around $161,000 on June 20. The firm now holds about 6.4 BTC, valued at slightly over $685,000 at current market rates.

Mehdi Azodi, Belgravia’s CEO, emphasized the company’s commitment to developing a BTC-centric reserve.

“As a micro-cap, we’ve determined that consistently adding BTC to our balance sheet represents the best use of our funds, and this strategy is vital for improving shareholder value,” he remarked. “We intend to keep leveraging company resources for BTC acquisitions via ongoing cash infusions from existing and previously issued convertible securities.”

The investment firm has also introduced a completely Bitcoin-focused private placement aimed at accelerating the growth of its treasury, joining a growing number of Canadian companies that are adopting BTC as a reserve asset.

Canada’s Bitcoin Treasury Corporation acquires 292 BTC, initiates lending

On the same date, Bitcoin Treasury Corporation, which focuses on institutional-grade Bitcoin services in Canada, announced its purchase of 292.80 BTC for approximately $31.5 million.

This acquisition, supported by a recent $125 million share offering, signifies the formal commencement of Bitcoin Treasury Corporation’s accumulation strategy, elevating its total holdings to 292.80 BTC.

The corporation aims to utilize its Bitcoin assets to provide lending services to institutions, enhancing liquidity while effectively managing risk. They perceive Bitcoin not just as a long-term reserve but also as a critical element of their business operations and revenue generation.

Bitcoin Treasury Corporation has shown strong confidence in Bitcoin’s long-term viability and is dedicated to enhancing shareholder value through strategic accumulation and active engagement with the asset.