HK Asia Holdings (Hkex: 1723) was soon renamed Moon Inc. and made history as the first public company in Great Fahrenheit to adopt the Bitcoin Treasury strategy. In a recent discussion hosted by Allen Helm Bitcoin for businessesnew CEO John Riggins outlined the company’s pivot, regulatory alignment with Hong Kong, and wider momentum buildings across Asia.
Riggins, a longtime Bitcoin advocate with extensive experience in China and Southeast Asia, explained that the move was driven by both a long-term conviction in Hong Kong and a positive change in regulatory stance. He said the company had been consulting with regulators, open market investors and local partners for several months before implementing the transition.
Originally focusing on SIM cards and prepaid high-tech products, HK Asia Holdings is currently aiming to integrate Bitcoin into both its balance sheet assets and its business model. This includes plans to deploy Bitcoin-related offerings through retail footprints, such as ATMs and prepaid Bitcoin products.
The company’s first steps included the acquisition of 8.88 BTC during the post-acquisition period, followed by a purchase of 10 bTC after the leadership transition was finalized. Its total holdings were acquired at 18.88 BTC, exceeding $1.7 million at the time of its announcement. Riggins said it will proceed according to Hong Kong’s measured but transparent regulatory guidance, but further accumulation is planned.
“We see it as a way to protect our balance sheets and a way to diversify it. Our Treasury Department is looking at how the rest of the world is moving,” Riggins said.
Strategic intentions go far beyond speculation. Riggins has assembled Bitcoin as a hedge against macro uncertainty, as a tool for long-term resilience and a bridge to new global financial infrastructure. He also highlighted how the regional corporate committees are beginning to become seriously involved in ideas, pointing to Japan’s metaplanet and US strategy as a compelling precedent.
Although the adoption of Asian companies Bitcoin is still in its early stages, interest is rapidly growing. Riggins highlights South Korea, Thailand, Malaysia and Indonesia, and it emphasizes it as a market that clarifies the possibility of following. He noted that much of the movement is happening quietly behind the scenes, especially in China.
“I’m more and more filled with messages like government people, people, you know, looking closely for inside information about what’s going on here in this space,” Riggins said.
No formal public moves have been announced by Chinese state entities, but Riggins believes Bitcoin is already held indirectly through government-related organizations, including the state-related investment sector. He suggested that these holdings could be more important than publicly known. As the US moves towards a strategic Bitcoin reserve, he sees China closely and potentially following if global policy momentum continues to change.
Moon plans to expand Bitcoin Holding within Hong Kong’s regulatory framework and serve as a model for other Asian companies exploring similar strategies. The company co-hosted Bitcoin Asia in Hong Kong this August, establishing its position as a regional pioneer and helping to promote the recruitment of a wider range of companies across Asia.
Disclaimer: This content was written on behalf of Bitcoin for businesses. This article is for informational purposes only and should not be construed as an invitation or solicitation to acquire, purchase, or subscribe to any securities. For full transparency, please note that BTC Inc., the parent company of UTXO Management, holds a stake in HK Asia Holdings Limited (1723.HK) in collaboration with SORA Ventures and other entities.
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