An investment holding company based in Hong Kong has joined numerous firms that are adding Bitcoin to their balance sheets, converting part of the company’s treasury into cryptocurrency.
HK Asia Holdings has announced that it has increased its Bitcoin reserves following an approval from its newly constituted board for the purchase.
Acquiring More Bitcoins
In a post on X, HK Asia Holdings disclosed that it has acquired an additional 10 Bitcoins, valued at approximately $858,581, bringing its total Bitcoin holdings to 18.88 units.
“The Board is excited to announce this acquisition of 10 BTC this week, advancing the company’s asset allocation strategy,” stated the holding company.
The Group noted in the disclosed transaction that it has “acquired roughly 18.88 units of Bitcoin for a total consideration of about $1,720,157.41.”
https://t.co/Dp4J6tzliw now holds 18.88 BTC. The Board is pleased to announce this week’s purchase of 10 BTC, furthering the company’s asset allocation strategy. pic.twitter.com/9eBKYE5mnu
— 1723.HK (@MoonIncHK) March 21, 2025
This acquisition suggests that the Asian investment firm views the original cryptocurrency as a reliable store of value and a method to counteract the depreciation of fiat currencies. HK Asia Holdings announced the BTC purchase despite the Hong Kong Stock Exchange not mandating such disclosure. It’s also worth noting that after its initial Bitcoin acquisition, the company’s stock price nearly doubled, with shares leaping by 5.7% on February 24.
Asset Allocation Strategy
This Bitcoin acquisition marks HK Asia Holdings’ third cryptocurrency investment in just over a month. The company clarified that these cryptocurrency investments are integral to the “Group’s asset allocation strategy,” which involves designating a portion of its treasury to cryptocurrencies as a form of diversification in treasury management.
The board at HK Asia Holdings recognized an opportunity in the increasing adoption of cryptocurrencies in business, with companies integrating these digital assets into their investment portfolios, notably Bitcoin.
“The Board is confident that there is potential for growth in cryptocurrencies, including Bitcoin as a robust store of value, which has maintained its position as one of the longest-standing and largest cryptocurrencies by market capitalization,” the firm stated.
The Group noted that the Board acknowledges the volatility associated with cryptocurrency prices, which led to the decision to invest in Bitcoin, given its status as the largest cryptocurrency by market cap. This Bitcoin acquisition is anticipated to enhance shareholder value over the long term.
“The Board views the Bitcoin Acquisitions as significant in scale, representing an important progression towards adapting to the changing global financial landscape, and aims to diversify the group’s investment portfolio while enhancing its asset value,” stated the investment holding company.
According to the Board, this strategic investment illustrates the company’s “vision and commitment to embracing technological advancements, paving the way for its entry into the blockchain industry.”
HK Asia Holdings executed its first cryptocurrency acquisition on February 13, 2025, after purchasing 1 BTC valued at $96,000 at that time.
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