HK Asia Holdings (1723) said it purchased another 10 Bitcoins (BTC) for $858,581.
The purchase on Thursday brought the Hong Kong listed company to about 18.88 BTC at a cost of around $1.72 million. The acquisition was made through open market transactions and funded through internal cash reserves.
In a statement, the company not only views Bitcoin as a valuable and valuable reservoir amid global economic uncertainty, inflation concerns and growing use of cryptocurrency in investment strategies, but also “may act as an effective hedge against depreciation of Fiat currency.”
Disclaimer: Part of this article was generated with the support of AI tools and reviewed by the editorial team to ensure accuracy and compliance with the standards. For more information, see Coindesk’s complete AI policy.
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