Belgravia Hartford Capital Inc. has announced its first Bitcoin acquisition, purchasing 4.86 BTC for $500,000 as part of its treasury strategy. This follows the company's $5 million credit facility with Round13 Digital Asset Fund. CEO Mehdi Azodi expressed optimism about the market conditions and Belgravia's BTC holdings. Additionally, the company reported a CAD $44.1 million non-capital tax loss, seeking ways to monetize this asset to support its Bitcoin strategy. The growing trend of companies adopting Bitcoin for their treasury is highlighted, with 226 entities having Bitcoin on their balance sheets.
"We are very pleased to have entered the market at this time," stated CEO of Belgravia Mehdi Azodi. "Belgravia... will continue to monitor the Facility and our holdings of BTC."
"Belgravia's accounting, legal and business advisors are exploring... options in order to monetize this CAD $44 million Non-Capital Loss for the benefit of shareholders..."
The adoption of Bitcoin as a treasury reserve asset has dramatically increased... To date, there are 226 companies and other entities with Bitcoin in their balance sheets.
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