Well, well, well! It seems that Toronto-based Belgravia Hartford Capital has decided to dip its toes into the wild waters of Bitcoin. Yes, you heard that right! They’ve just completed their inaugural purchase as part of their shiny new Bitcoin treasury strategy, following in the illustrious footsteps of the U.S. firm formerly known as MicroStrategy. Because who wouldn’t want to follow a company with a name that sounds like a bad 80s sitcom?
In a move that can only be described as “bold” (or perhaps “slightly unhinged”), the company has acquired a whopping 4.86 BTC at an average price of about $102,848 per coin. That’s right, folks! They’ve spent a cool $500,000 from their shiny new $5 million credit facility to make this purchase. And where did this funding come from? Why, from the Round13 Digital Asset Fund, of course! Because nothing says “financial wisdom” quite like borrowing money to buy digital coins that fluctuate more than a toddler on a sugar high.
Mehdi Azodi, the CEO of Belgravia, was positively beaming as he declared, “We’re happy to have entered the Bitcoin market at this moment.” I mean, who wouldn’t be thrilled about investing in something that could either make you a millionaire or leave you eating instant noodles for the next decade? He went on to say that both Belgravia and Round13 will be keeping a close eye on their Bitcoin holdings and the credit facility. “We believe this summer will be an exciting time not just for Belgravia, but for the entire crypto space,” he added, probably while crossing his fingers behind his back.
But wait, there’s more! In addition to their Bitcoin escapade, Belgravia has also shared a delightful little tax update. After filing their 2023 tax return, they now hold over CAD $44 million in non-capital losses. Yes, you read that right! They’re practically swimming in losses, which they can use to offset future taxes. It’s like finding a treasure chest full of disappointment! The team is now exploring ways to turn this financial conundrum into a win-win for shareholders and their Bitcoin strategy. Because who doesn’t love a good puzzle?
And just when you thought it couldn’t get any more exciting, Canadian firm SolarBank has also jumped on the Bitcoin bandwagon, adding it to their treasury reserves as part of a long-term financial strategy. They’ve even applied to open a Coinbase Prime account for secure Bitcoin storage and access to digital asset tools. Because if you’re going to invest in something as volatile as Bitcoin, you might as well do it with style!
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2025-06-09 19:01