HK Asia Holdings (1723) said it bought another 10 bitcoin (BTC) for $858,581.
The Thursday purchase took the Hong Kong-listed company’s total to around 18.88 BTC at a cost of roughly $1.72 million. The acquisitions were made via open market transactions and funded through internal cash reserves.
In a statement, the company said it views bitcoin as a viable store of value amid global economic uncertainty, inflation concerns and expanding use of cryptocurrencies in investment strategies as well as “its potential to act as an effective hedge against depreciation of fiat currencies.”
Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.
Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
Bitcoin price failed to extend its recovery wave above the $70,500 zone. BTC is now…
Bitcoin Magazine Coinbase CPO Rejects Claims of Opposing Bitcoin Tax Relief as Jack Dorsey Demands…
The security architecture surrounding Bitcoin continues to evolve as new infrastructure emerges to support self-custody…
Bitcoin is up about 7% from the Sunday lows, even as equities and gold tread…
Bitcoin Magazine Cosmos Health (COSM) Buys $600K in Bitcoin, Expands Digital Asset Treasury Cosmos Health…
Bitcoin Magazine Bitcoin is Now a Global Financial Player as Institutions Take the Helm: Bitwise…