Markets, Bitcoin, Hong Kong The firm purchased one other 10 bitcoin, signaling confidence in crypto as a long-term asset technique.
HK Asia Holdings (1723) stated it purchased one other 10 bitcoin (BTC) for $858,581.
The Thursday buy took the Hong Kong-listed firm’s whole to round 18.88 BTC at a price of roughly $1.72 million. The acquisitions have been made by way of open market transactions and funded by inner money reserves.
In a press release, the corporate stated it views bitcoin as a viable store of value amid world financial uncertainty, inflation issues and increasing use of cryptocurrencies in funding methods in addition to “its potential to act as an effective hedge against depreciation of fiat currencies.”
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