Today, Belgravia Hartford Capital Inc. (CNSX: BLGV) completed its fourth Bitcoin acquisition, buying 9.35 BTC for $1 million at an average price of $106,918 per Bitcoin.
The purchase marks Belgravia’s total Bitcoin Holdings currently at 15.75 BTC, valued at around $1.66 million. The average acquisition cost across all purchases for the company is $105,449 per BTC. The transaction was facilitated through Coinsquare’s regulated OTC desk.
“This funding will allow Belgravia to have immediate and direct access to Belgravia to carry out a long-term Bitcoin acquisition delegation,” said CEO of Belgravia Mehdi Azodi. “After months of due diligence in the crypto sector, we believe Bitcoin is offering a compelling opportunity to strengthen its balance sheet and support long-term value strategies.”
On June 9th, the acquisition was made possible through a $5 million credit facility protected from Round13 Digital Asset Fund LP, the premier institutional investor focused on digital asset strategies. The facility aims to support Belgravia’s Bitcoin Treasury Reservation Strategy, allowing the company to build long-term exposure to Bitcoin as a strategic financial asset.
“We are extremely pleased to be able to enter the market at this point,” Azodi said. “Belgravia and Round 13 DAF will continue to monitor facilities and BTC holdings, particularly as we move into the expected active summer of Belgravia, cryptocurrency and BTC.”
The facility’s first tranche was used shortly after approval to complete Belgravia’s first Bitcoin acquisition. The company bought 4.86 BTC for $500,000 with an average price of $102,848 per Bitcoin. This marked the beginning of Belgravya’s broader initiative to allocate capital to Bitcoin.
“Belgravia Hartford continues to work on full transparency in its financial operations and will continue to provide timely updates on all critical developments,” the press release said. “The company’s insiders currently hold about 36% of their outstanding shares.”
Source: https://bitcoinmagazine.com/news/investment-holding-company-belgravia-hartford-capital-completes-fourth-bitcoin-acquisition
