The Hong Kong-based firm Ming Shing Group continues to pursue its strategy to invest in Bitcoin. One of the firm’s affiliates, Lead Benefit (HK) Limited, recently purchased 333 Bitcoin. The average price paid was $81,555 per Bitcoin, and the total investment was around $27 million.
This follows an earlier purchase of 500 Bitcoins in January, where the company spent approximately $47 million at an average price of $94,375 per Bitcoin. Ming Shing focuses on wet trades, including plastering and tile work. The company uses its idle funds for Bitcoin investments.
Ming Shing balances Bitcoin and business growth
Bitcoin is used as a liquid fund that may be sold immediately if there is a need to fund its core business. The company will benefit from potential appreciation in price while keeping the core business stable.
Lead Benefit (HK) Limited was incorporated in Dec. 2024. Lead Benefit International Limited, the parent company, was created in the same month. Both the companies fall under the parent entity Ming Shing, which is diversifying from construction services. The company is hopeful diversification into digital assets will make it more financially resilient.
Ming Shing conducts business through two subsidiary firms, namely, MS (HK) Engineering Limited and MS Engineering Co. Limited. One deals with public and private sector projects, and the other handles private sector work. The company has built a strong foothold in the construction industry in Hong Kong and is expanding in local and foreign markets.
Ming Shing bets on BTC for financial growth
The company is still optimistic about their strategy to invest in Bitcoin. The company is sure that the market for cryptocurrencies is full of promise and returns. Though the market is unstable, Bitcoin is an investment that will make the company financially healthier, and if they have to, they can liquidate the investment to cover costs.
Ming Shing is not the first construction company to explore Bitcoin investments. There are other firms across the globe that have explored digital assets as a diversification avenue. The firm’s strategy is a growing trend where traditional firms engage in alternative investments to diversify their balance sheet.
Amidst market fluctuations, Ming Shing continues to pursue expansion prospects. It is remaining steadfast in its core business but is also embracing emerging finance trends. Investors and market analysts will be watching closely how it all turns out. The firm’s move is an indication of the increased interaction between traditional industries and digital finance.
