Addentax wants to acquire Bitcoin and crypto worth 800 million dollars
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Addentax Group, a company based in China and listed on Nasdaq with the ticker ATXG, has stated its intention to acquire Bitcoin and crypto for a total value of 800 million dollars. Addentax: the company wants to acquire Bitcoin and crypto worth 800 million dollars Addentax Group seems to want to enter the world of cryptocurrencies in a substantial way. In fact, the company based in China has announced its intention to buy Bitcoin and crypto for a total value of 800 million dollars. Specifically, Addentax revealed its intention to purchase 8,000 BTC and other major cryptos, including the memecoin TRUMP, by issuing common shares. At the moment, no definitive agreement has been reached, but it seems that the company is discussing its strategy with some important and influential holders of BTC and other crypto. In practice, this strategy would see Addentax begin to invest in and hold cryptocurrencies long-term and, at the same time, build the Company’s networks through the entry of these crypto influencers as its shareholders. Addentax and its entry strategy into the Bitcoin and crypto world Commenting on the initiative of the Chinese company, Hong Zhida, the CEO of Addentax, stated the following: “This initiative supports the Company’s broader blockchain strategy, facilitating potential acquisitions of digital assets like Bitcoin and introducing strategic investors with experience in the crypto ecosystem. We believe that some established digital assets can serve as a stable component of the Company’s long-term holdings, given their liquidity and the growing institutional interest in recent years.” In practice, by issuing ordinary shares in exchange for cryptocurrency assets, the company ATXG aims to strengthen its balance sheet and bring crypto-savvy investors into its network of shareholders. In the last seven days, the price of Bitcoin (BTC) is above the fateful threshold of $100,000. At the…
Filed under: News - @ May 16, 2025 2:21 pm