- HK Asia Holdings Limited has increased its Bitcoin holdings to almost 9 BTC
- This is on the back of the stock rising 93% after the previous purchase
- The announcement of the new purchase boosted shares up 5.7% to HK$6.66
HK Asia Holdings Limited increased its Bitcoin to almost 9 BTC, after a previous purchase of 1 BTC noticeably boosted the share price. On February 16, HK Asia Holdings Limited shared that it bought 1 BTC, after which the share price rose 93%, after which it received approval to increase its Bitcoin holdings on its balance sheet.
More About HK Asia Holdings Ltd Bitcoin Accumulation
Large companies and holdings continue to see more strategic value in owning Bitcoin and make purchases that immediately impact their shares, as happened with HK Asia Holdings Limited.
So HK Asia Holdings bought just 1 BTC for $96,150 on February 16.
After that, its shares skyrocketed 93% to 5.50 Hong Kong dollars ($0.71) on the Hong Kong Stock Exchange.
This created a favorable environment for the next purchase decision, and on Feb. 23 we saw the news that the company received approval from the board of directors to increase its Bitcoin reserves and shared that on Feb. 20, it purchased around 7.88 BTC worth $95,076 for a total cost of around $761,705.
This has already had an impact on the stock, and HK Asia shares rose about 5.7% on Feb. 24 to trade at about HK$6.66 (86 cents).
Conclusion
We are seeing Bitcoin becoming a strategic reserve not only for crypto companies but large holdings and even entire nations. Its rapid adaptation with the arrival of the new Trump administration has become quite straightforward.
However, it’s always worth leaving a degree of caution, as there is always room for unexpected decisions of key individuals and other factors. Be aware and stay tuned for updates on the rapidly evolving regulations and crypto landscape.
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