Hong Kong firm’s Board greenlights more Bitcoin buys as shares surge 1700%

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HK Firm Goes All-In on Bitcoin 🚀

Hong Kong firm’s Board greenlights more Bitcoin buys as shares surge 1700%

  • HK Asia Holdings buys 7.88 BTC worth US$761,705 after a 1,700% stock price surge
  • The company now holds a total of 8.88 BTC, expanding its digital asset strategy

Hong Kong’s HK Asia Holdings Limited, bless their hearts, is doubling down on its crypto strategy. 😇 They just greenlit another Bitcoin [BTC] purchase worth a cool US$761,705.

This decision comes after their stock price went on a tear, surging a mind-blowing 1,700%. Clearly, someone’s been reading the Bitcoin bull thesis a little too enthusiastically. 🐂

The firm recently scooped up 7.88 BTC, solidifying their commitment to digital assets just as institutional interest in Bitcoin is reaching fever pitch. Of course, they’re doing this all while ignoring the market volatility. They’re bold, or perhaps just foolish. 🤷‍♂️

HK Asia Holdings and their initial Bitcoin investments

HK Asia Holdings Limited, a Hong Kong-based investment firm, has been trying to diversify its portfolio. You know, like a good little investment firm.

On February 16th, the company took the plunge and bought its first Bitcoin, acquiring 1 BTC for approximately $96,150 using its own cash. 💸 Not exactly a whale, but hey, baby steps.

Despite being a relatively modest purchase, it positioned HK Asia within the growing trend of corporations integrating digital assets into their financial strategies. Or at least, that’s what they’re telling themselves.

Breaking down Hong Kong firm’s latest crypto purchase

Building on their initial foray, the company’s board approved another Bitcoin acquisition just days later, because why not?

On February 20th, HK Asia purchased 7.88 BTC for $761,705, bringing their total holdings to approximately 8.88 BTC at an average purchase price of $97,021 per coin. 🤯

Despite the scale of this investment, Hong Kong Listing Rules (Chapter 14) classify it as non-notifiable, because, you know, who needs transparency? However, HK Asia voluntarily disclosed the transaction.

A speculative frenzy or a strategic masterstroke?

Investor enthusiasm around HK Asia’s Bitcoin strategy has been evident in its stock price movements. Following the initial purchase, the company’s shares surged nearly 93% by the close of trading on February 17th. Suddenly, everyone’s a Bitcoin expert.

The rally continued, with shares rising 5.7% by midday on February 24, trading at approximately 6.66 Hong Kong dollars ($0.86).

Since the beginning of 2025, HK Asia’s stock has soared 1,700%, nearing its June 2019 all-time high of HK$6

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2025-02-25 04:11