HK Asia expands Bitcoin holdings by 10 BTC

HK Asia Holdings, based in Hong Kong, has expanded its Bitcoin holdings, buying an additional 10 BTC for around $ 858,581.

THE purchase brings the company’s total bitcoin (BTC) Subjects at 18.88 BTC, valued at around 1.72 million dollars.

The acquisition follows on February 23 Approval of the Board of Directors Allow HK Asia to increase its Bitcoin investments. The company had previously bought 1 BTC on February 16 and 7.88 BTC on February 20, funding the acquisitions through internal cash reserves.

Value store

HK Asia considers Bitcoin as a reserve of value and coverage against the depreciation of fiduciary currency. The company has voluntarily disclosed the purchase despite not being required under the Hong Kong Stock Exchange Rules.

After its initial purchase of Bitcoin, the HK Asia stock price has almost doubled, and its last announcement saw shares climb 5.7% on February 24.

The company joins a growing list of listed companies adding bitcoin to their balance sheets. Kurl technological group based in the United States recently disclosed Bitcoin investment of $ 10 million, while the Japanese girl has Announced plans To buy 1 billion JPY BTC by May.

Companies love Strategy And Metaplanet led the charge with periodic Bitcoin investments.