HK Asia Holdings Limited has announced a significant further investment in Bitcoin, acquiring approximately 7.88 BTC for around $761,000 on February 20, 2025. This latest purchase follows an initial investment disclosed on February 16, 2025, bringing the company’s total Bitcoin holdings to approximately 8.88 BTC, with an average cost of about $97,000 per unit.
The decision to invest aligns with the company’s strategic vision, and the Board of Directors approved the transaction, which was financed through internal resources. Notably, the number 8 holds special significance in Asian culture, symbolizing wealth and prosperity, which may have influenced the timing and scale of the investment.
Following its initial purchase of 1 BTC for $96,150 on February 13, 2025, HK Asia Holdings saw its stock price soar nearly 93% on the Hong Kong Stock Exchange. The stock opened at HK$0.40 and closed at HK$5.50 (approximately US$0.71), nearing its peak of HK$6.50 (US$0.84) from June 2019.
Investors are keenly watching the BTC/USD exchange rate to evaluate the effects of cryptocurrency investments on publicly traded companies. Despite the significant investment, HK Asia Holdings has stated that the combined percentage ratios of these transactions remain below 5% under the Listing Rules of The Stock Exchange of Hong Kong, allowing for this announcement to be made voluntarily.
Shogun Lin
