On June 9, Belgravia Hartford Capital – an investment company listed on the Canadian Securities Exchange (CSE) – completed its first Bitcoin purchase worth 500,000 USD, equivalent to 4.8615 BTC at an average price of 102,848.30 USD/BTC ( including fees).
This is the first transaction under the credit loan of 5 million USD from the Round 13 Digital Asset Fund L.P. (Round 13 DAF). Belgravia has received the first disbursement from this loan.
CEO Mehdi Azodi expressed optimism about the timing of the purchase: “We are very pleased to have entered the market at this time. Belgravia and Round 13 DAF will continue to monitor the loan as well as the amount of BTC held as we enter the upcoming vibrant summer.”
Besides, Belgravia also disclosed a non-capital loss of up to CAD 44.13 million (32.27 million USD) from the 2023 tax report. This loss can be carried over to later years for tax optimization. The company is considering options to capitalize on this loss, strengthen its balance sheet, and support its Bitcoin hoarding strategy.
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