In May 2013, investor Davinci Jeremie encouraged individuals to “just invest $1 in Bitcoin” for the potential of transformative returns. Back then, BTC was priced at approximately $100. Those who acted on his advice within the next decade were able to acquire Bitcoin before the US ETF frenzy propelled its value beyond $100,000 for the first time.
Currently, companies are starting to recognize the benefits of Bitcoin investments. Michael Saylor’s Strategy, previously known as MicroStrategy, has witnessed its stock soar over 2,200% since its initial Bitcoin acquisition. However, it’s worth noting that firms do not need to amass over 478,000 BTC to gain exposure to Bitcoin.
The Hong Kong investment firm HK Asia Holdings experienced a 93% increase in its stock price after purchasing just one Bitcoin. This is a remarkable return considering the Bitcoin was acquired at about 12% below its all-time peak.
This week’s Crypto Biz newsletter delves into the Bitcoin economy, highlighting HK Asia’s acquisition, the growing economic impact of Bitcoin mining, and the rising institutional interest in Strategy.
HK Asia’s Bitcoin Move
On February 13, Hong Kong-based investment firm HK Asia Holdings secured one Bitcoin for roughly $96,150. Within three days of revealing this investment, the company’s share price surged by nearly 93%.
The stock hit a daily high of 5.50 Hong Kong dollars (approximately 71 US cents), marking its highest point in four and a half years.
The decision to buy a single Bitcoin was approved by the company’s board, which was motivated by the “growing popularity of cryptocurrencies in the business realm.” The firm stated that this move is “symbolic in nature and signifies a meaningful advance toward aligning with the shifting global financial landscape.”
HK joins a number of Asian companies, such as Hong Kong construction firm Ming Shing and Japan’s Metaplanet, in investing in Bitcoin. Notably, Metaplanet’s shares have soared by more than 3,900% since announcing its first Bitcoin purchase.
Bitcoin Mining Industry Creates 31,000 US Jobs
Bitcoin miners are not only achieving record profits but also significantly influencing the broader economy. A report from the Perryman Group, released by The Digital Chamber and Texas Blockchain Council, indicates that the Bitcoin mining sector has generated over 31,000 jobs across the US.
These job gains are concentrated in 12 states, with Texas representing more than a third of the total. States like Georgia, North Dakota, and New York have also seen notable increases in mining-related employment.
The annual economic benefits of the US Bitcoin mining industry. Source: Texas Blockchain Council
The report reveals that Bitcoin mining has generated $4.1 billion in annual GDP and bolstered local energy grids as a load-balancing resource. These developments are promising for the Trump administration’s recent endorsement of Bitcoin mining.
12 US States Have Indirect Bitcoin Exposure
Twelve US states have disclosed holdings in shares of Strategy (MSTR), the business intelligence firm of Michael Saylor that has effectively transitioned into a Bitcoin bank. Retirement systems and treasury departments in California, Florida, Wisconsin, and North Carolina hold the largest quantities of MSTR shares, as per Bitcoin analyst Julian Fahrer.
For instance, the California State Teachers Retirement System possesses 264,713 MSTR shares valued at approximately $76 million. Meanwhile, Florida’s State Board of Administration has acquired 160,470 shares worth around $46 million.
The California State Teacher’s Retirement System’s investment in Strategy. Source: SEC
Collectively, these 12 states hold $330 million in MSTR exposure.
Strategy stands as the largest corporate Bitcoin holder globally, with a portfolio of 478,740 BTC.
Tether Co-Founder Launches USDt Rival
After selling Tether to Bitfinex operators in 2014, when it was valued under $1 billion, co-founder Reeve Collins is set to introduce a decentralized rival that enables holders to earn yields.
In the latter half of 2025, Collins aims to launch Pi Protocol on both Ethereum and Solana blockchains. This protocol will utilize smart contracts to mint the USP stablecoin in exchange for the yield-generating USI token. The stablecoin will be fully backed by bonds and other tangible assets, Collins stated.
The stablecoin sector is witnessing heightened activity this year as Tether’s USDt defends its position against rivals like Circle’s USD Coin (USDC), Ethena’s USDe (USDE), and Dai (DAI). Together, stablecoins hold a valuation exceeding $225 billion, as reported by DefiLlama.
The stablecoin market achieved record success in 2024, with transaction values surpassing those of Visa and Mastercard.
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