Today, Belgravia Hartford Capital Inc. (CNSX: BLGV) has announced it has completed its fourth Bitcoin acquisition, purchasing 9.35 BTC for $1 million at an average price of $106,918 per Bitcoin.
With this purchase, Belgravia’s total Bitcoin holdings now stand at 15.75 BTC, valued at approximately $1.66 million. The company’s average acquisition cost across all purchases is $105,449 per BTC. The transaction was facilitated through Coinsquare’s regulated OTC desk.
“This financing enables Belgravia immediate and direct access to capital in order to execute our long term Bitcoin acquisition mandate,” stated CEO of Belgravia Mehdi Azodi. “After months of due diligence in the crypto sector we believe Bitcoin offers a compelling opportunity to strengthen our balance sheet and support our long-term store-of-value strategy.”
On June 9, the acquisition was made possible through a USD $5 million credit facility secured from Round13 Digital Asset Fund L.P., a premier institutional investor focused on digital asset strategies. The facility is intended to support Belgravia’s Bitcoin Treasury Reserve Strategy, enabling the company to build long term exposure to Bitcoin as a strategic treasury asset.
“We are very pleased to have entered the market at this time,” said Azodi. “Belgravia and Round 13 DAF will continue to monitor the Facility and our holdings of BTC as we move into the anticipated active Summer for Belgravia, cryptocurrencies and BTC in particular.”
The first tranche of this facility was used shortly after its approval to complete Belgravia’s initial Bitcoin acquisition. The company purchased 4.86 BTC for $500,000 at an average price of $102,848 per Bitcoin. This marked the beginning of Belgravia’s broader initiative to allocate capital into Bitcoin.
“Belgravia Hartford remains committed to full transparency in its treasury operations and will continue to provide timely updates on all material developments,” stated the press release. “Insiders of the Company currently hold approximately 36% of the outstanding shares.”
