HK Asia Holdings Purchases More Bitcoin

HK Asia Holdings (1723) announced the acquisition of an additional 10 bitcoin (BTC) for $858,581 on Thursday.

This latest purchase brings the Hong Kong-listed company’s total holdings to approximately 18.88 BTC, with a cumulative cost of about $1.72 million. The acquisitions occurred through open market transactions and were financed using internal cash reserves.

In their statement, the company expressed that it considers Bitcoin a viable store of value amidst global economic uncertainty, inflation worries, and the increasing integration of cryptocurrencies in investment strategies. They also highlighted Bitcoin’s potential as an effective hedge against the depreciation of fiat currencies.

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