Belgravia Hartford Secures $1M to Grow Bitcoin Treasury
In Canada, strategies for Bitcoin treasury management are gaining traction among companies. Belgravia Hartford, a publicly listed investment firm based in Toronto, is bolstering its reserves with additional funding.
According to a statement on June 26, Belgravia Hartford has drawn another $1 million from its credit line with Round13 Digital Asset Fund, which specializes in blockchain investments.
This raises the total amount accessed to $1.5 million, all earmarked for acquiring Bitcoin (BTC) as part of the firm’s ongoing treasury strategy. Purchases will be facilitated through the regulated OTC desk of the Canadian cryptocurrency exchange, Coinsquare.
Recently, Belgravia has undertaken a series of Bitcoin acquisitions, including a purchase of around 1.5 BTC for approximately $161,000 on June 20. The firm currently possesses about 6.4 BTC, worth just over $685,000 at present prices.
Belgravia’s CEO, Mehdi Azodi, emphasized the firm’s commitment to developing a BTC-centric reserve.
“As a micro-cap company, we’ve determined that consistently adding BTC to our balance sheet is the best use of our funds, and this strategy is essential for increasing shareholder value,” he remarked. “We intend to keep utilizing company resources for BTC purchases through ongoing cash infusions from existing and previously issued convertible securities.”
The investment firm has also announced a private placement entirely focused on Bitcoin, aimed at accelerating the growth of its treasury, aligning itself with a growing number of Canadian companies adopting BTC as a reserve asset.
Canada’s Bitcoin Treasury Corporation acquires 292 BTC, initiates lending
Financed through a recent $125 million share offering, this acquisition marks the official kick-off of Bitcoin Treasury Corporation’s accumulation strategy, raising its total holdings to 292.80 BTC.
The corporation plans to leverage its Bitcoin assets to offer lending services to institutions, enhancing liquidity while effectively managing risk. They regard Bitcoin not just as a long-term reserve but also as a vital element of their business operations and revenue generation.
Bitcoin Treasury Corporation has expressed strong confidence in Bitcoin’s long-term prospects and is focused on enhancing shareholder value through strategic accumulation and active engagement with the asset.