24.02.2025 18:31
HK Asia Holdings increased its Bitcoin investment to 8.88 BTC, making an additional purchase worth $761,000. Following the initial investment, the company's shares gained 93% in value, while the total increase since the beginning of the year reached 1700%.
The Hong Kong-based investment giant HK Asia Holdings Limited has decided to expand its Bitcoin investments, raising its total assets to 8.88 BTC. Following the company's first Bitcoin purchase, its stock values increased by 93% within a week. With the new Bitcoin investment move approved by the board of directors, the company is strengthening its position in the cryptocurrency market while its stock values are approaching an all-time high.
The Company's Stock Value Has Recorded a Record Increase Since the Beginning of the Year
The Hong Kong-based investment company HK Asia Holdings Limited has decided to expand its Bitcoin investments following successful results from its first step into the cryptocurrency market. In a statement made on February 24, the company's board of directors announced that it had approved the strategy to grow its Bitcoin portfolio.
In its latest move, the company purchased approximately 7.88 Bitcoin worth $761,705, raising its total Bitcoin assets to 8.88 BTC. In this purchase made on February 20, the average cost per Bitcoin was $97,021.
Following the announcement of the first Bitcoin investment, investor interest in the company's stocks surged significantly. As a result of the first purchase announced on February 16, HK Asia's stock values rose by approximately 93% by the end of the trading day on February 17.
According to market data, the company's shares reached 6.66 Hong Kong dollars (approximately 86 cents) with a 5.7% increase during the midday session on the Hong Kong Stock Exchange on February 24. If this value is maintained, the company's shares could close above the record level of 6.50 Hong Kong dollars recorded in June 2019. HK Asia, which has shown remarkable performance, has seen its stock value increase by 1,700% since the beginning of the year.
In a statement made at the beginning of the month, it was noted that the board of directors made the decision for the first Bitcoin investment by evaluating the increasing popularity of cryptocurrencies in the business world. The company also emphasized that despite the Bitcoin purchases being below the legal notification threshold, it preferred to share this information with the public in line with the principle of transparency.
On the other hand, Bitcoin has shown a balanced trend in the last 24 hours, declining to $95,537 with a decrease of less than 1%. According to CoinGecko data, the cryptocurrency has been trading below the psychological resistance of $100,000 since February 5 and has lost 12% of its value from the peak of $108,786 reached on January 20.