The post Hong Kong firm’s Board greenlights more Bitcoin buys as shares surge 1700% appeared on BitcoinEthereumNews.com.

Journalist Posted: February 25, 2025 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 is doubling down on its crypto strategy, approving an additional Bitcoin [BTC] purchase worth approximately US$761,705. This decision follows an astonishing 1,700% surge in the company’s stock price, signaling a bold move toward increased crypto market exposure. The firm recently completed transactions to acquire 7.88 BTC, reinforcing its commitment to digital assets at a time when institutional interest in Bitcoin is steadily rising, despite ongoing volatility in the broader market. HK Asia Holdings and their initial Bitcoin investments HK Asia Holdings Limited, a Hong Kong-based investment firm, has been actively diversifying its asset portfolio. On the 16th of February, the company made its inaugural Bitcoin purchase, acquiring 1 BTC for approximately $96,150 using internal funds. Though relatively modest, this move positioned HK Asia within the growing trend of corporations integrating digital assets into their financial strategies. Breaking down Hong Kong firm’s latest crypto purchase Building on its initial foray, the company’s board approved an additional Bitcoin acquisition just days later. On the 20th of February, HK Asia purchased 7.88 BTC for $761,705, bringing its 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, as the applicable percentage ratios remained below 5%. 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 the 17th of…

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Filed under: News - @ February 25, 2025 1:15 am