Belgravia Hartford Boosts Bitcoin Holdings 100% to $1.5 Million

Belgravia Hartford, a publicly traded investment company based in Toronto, has increased its Bitcoin holdings to $1.5 million. The company utilized its credit facility with Round13 Digital Asset Fund, a venture capital firm focused on blockchain technology, to secure an additional $1 million. This brings the total amount spent on Bitcoin to $1.5 million.

Belgravia Hartford has chosen to purchase Bitcoin exclusively through Coinsquare’s regulated over-the-counter (OTC) trading desk. This decision ensures that all transactions are conducted transparently and in compliance with regulatory standards. The company has accessed this revolving credit facility in two tranches, with the second drawdown amounting to $1 million, bringing the total utilized under this facility to $1.5 million. The company has stated that any funds drawn from this facility will be directly used to acquire Bitcoin, demonstrating its commitment to expanding its Bitcoin reserves.

Mehdi Azodi, CEO of Belgravia Hartford, emphasized the company's strategic decision to incorporate Bitcoin as a major reserve asset. He noted that as a small-cap company, investing in Bitcoin is a prudent move to create value for shareholders. Azodi believes that increasing the size of Bitcoin on the company's balance sheet is essential for long-term growth. He further stated that Belgravia will continue to allocate company funds to Bitcoin acquisitions, utilizing additional cash from the exercise of outstanding convertible securities to purchase more Bitcoin.

Belgravia Hartford's move to increase its Bitcoin holdings aligns with a growing trend among companies that are adding Bitcoin to their balance sheets. Other firms, such as Metaplanet, Know Labs, and Strategy, have also adopted Bitcoin as a reserve asset. These companies view Bitcoin as a hedge against inflation and a means to increase their funds over the long term. Belgravia Hartford has also announced a private placement where only Bitcoin will be considered, aiming to raise additional funds that will be directly used to purchase more Bitcoin for the company's treasury. This strategy positions Belgravia alongside other Canadian companies that view Bitcoin as a safe and valuable investment.

The latest actions by Belgravia Hartford underscore the company's confidence in the future of Bitcoin. By collaborating with Round13 Digital Asset Fund and Coinsquare, Belgravia ensures that its Bitcoin acquisitions are conducted in a regulatory-compliant and secure manner. As more companies adopt similar strategies, Bitcoin is gaining traction in the business world. Belgravia Hartford's continued acquisition of Bitcoin is expected to benefit its shareholders and contribute to the company's growth. The market is closely watching how Belgravia's Bitcoin strategy will shape its future.