Canadian companies have begun actively using Bitcoin in their financial strategies. In the past week, two firms have made significant moves in this direction.
Belgravia Hartford Increases Bitcoin Investments
Toronto-based investment firm Belgravia Hartford is continuing to build its Bitcoin reserves. This week, it pulled another $1 million from its credit line with Round13 Digital Asset Fund, bringing the total drawn so far to $1.5 million, all directed towards Bitcoin purchases.
The company purchased 1.5 BTC for around $161,000 on June 20 and now holds a total of 6.4 BTC valued at approximately $685,000 at current prices.
CEO Mehdi Azodi stated:
> "As a micro-cap, we have determined regularly adding BTC to the balance sheet is our best use and store of funds and that such activity is currently imperative for accretive growth in shareholder value."
First Moves of Bitcoin Treasury Corporation
Another player in the market, Bitcoin Treasury Corporation, also made headlines, revealing its first major purchase: 292.80 BTC worth about $31.5 million. This purchase was funded by a $125 million share offering and is just the beginning of their accumulation strategy.
The company is not merely holding Bitcoin; they intend to use the asset for lending to institutional clients, offering liquidity while managing risks.
Growing Interest in Bitcoin in Canada
Both moves highlight a growing trend: Canadian companies are taking Bitcoin seriously. Belgravia is gradually building its reserves, while Bitcoin Treasury Corporation is demonstrating its intentions with size and utility. This reflects a larger shift in Canada, where BTC is being viewed not just as a hedge but as an important financial tool.
Canadian companies continue to adapt their strategies, recognizing Bitcoin as a key element of their corporate financial future.
