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]
Last week's purchases were funded by sales of the company's common stock.Read MoreCoinDesk: Bitcoin, Ethereum,…
Bitcoin Magazine Strategy (MSTR) Buys $43 Million More Bitcoin After Saylor Defends Potential BTC Sales…
Michael Saylor confirmed the company was prepared to sell bitcoin, reviving a tax loss harvesting…
Your day-ahead look for May 11, 2026Read MoreCoinDesk: Bitcoin, Ethereum, Crypto News and Price Data[#item_full_content]
BTC briefly topped $82,400 before slipping below $81,000 as traders repositioned around CME futures open…
Bitcoin and Nasdaq have rallied sharply, but U.S. consumer sentiment has fallen to historic lows,…