Summary
- Belgravia Hartford Capital announced that it recently utilized cash reserves to acquire 1.53 Bitcoin additionally.
- With this purchase, the company’s total Bitcoin holdings stand at 6.39 BTC, with an average purchase price of $103,367.
- The company emphasized its intention to continue expanding its Bitcoin reserves by leveraging both internal funds and a credit facility, depending on market conditions, to enhance shareholder value.
Canadian investment firm Belgravia Hartford Capital has reportedly acquired more Bitcoin (BTC).
According to Business Wire on the 21st (local time), Belgravia Hartford Capital recently used available cash reserves to make an additional purchase of 1.53 BTC (totaling $160,842). The average purchase price was reported at $105,013 per BTC. The company plans to continue expanding its reserves by combining its own funds with an existing $5 million credit facility, depending on market conditions.
Mehdi Azodi, CEO of Belgravia Hartford Capital, stated, “Continuously acquiring additional Bitcoin is the best strategy to increase shareholder value as a small listed company,” adding, “We plan to steadily purchase Bitcoin by utilizing funds received from the exercise of convertible securities.”
Currently, Belgravia Hartford Capital holds a total of 6.39 BTC, with an average purchase price of $103,367.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
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