HK Asia Holdings made its first Bitcoin (BTC) buy in what it described as a symbolic however strategic transfer towards integrating digital property into its monetary technique.
The Hong Kong-listed firm acquired 1 BTC on Feb. 13 for $96,150 — roughly HK$750,000 — utilizing inner funds. Whereas the transaction stays small in scale, the corporate framed it as a pivotal step in aligning with the evolving monetary panorama.
The announcement prompted the agency’s inventory worth to surge 92.98% to shut the day at HK$5.50.
The acquisition comes days after a significant management overhaul. A consortium led by UTXO Administration, Sora Ventures, High Legend SPC, and Allied High Investments lately took a majority stake within the firm.
The corporate additionally appointed new board members, together with David Bailey and John Riggins of BTC Inc. and Sora Ventures co-founder Jason Fang.
Riggins mentioned:
“This Bitcoin buy is greater than a transaction; it’s a daring step towards making a imaginative and prescient for the way forward for the corporate.”
HK Asia Holdings mentioned the acquisition complies with itemizing guidelines that forestall main transactions through the firm’s basic supply interval, guaranteeing all relevant proportion ratios stay beneath the 5% threshold required for HKEX disclosure.
Regardless of its small dimension, the funding indicators a shift in technique underneath the brand new management, which goals to discover bitcoin investments, Web3 alternatives, and monetary innovation.
Fang mentioned:
“Each journey begins with a single step. This primary Bitcoin buy indicators a transparent roadmap for what’s to come back within the coming months.”
The corporate pointed to rising institutional adoption of Bitcoin, international financial uncertainty, and considerations over fiat forex depreciation as components supporting the funding.
Its new homeowners, together with UTXO Administration and Sora Ventures, performed a key position in Japan’s Metaplanet, sometimes called “Asia’s MicroStrategy” for its Bitcoin-focused technique.
Whereas HK Asia Holdings didn’t disclose additional plans for digital asset acquisitions, its new management mentioned it’s dedicated to evaluating digital property’ position within the firm’s monetary future.
