HK Asia Holdings Limited has expanded its Bitcoin holdings to nearly 9 BTC, just one week after its first investment. The company disclosed this move in a voluntary announcement on Feb. 23.
The company’s Board approved the additional investment, leading to a series of transactions on 20 Feb. 2025. The firm purchased approximately 7.88 BTC at a total cost of around $761,705.07. The funds for this purchase came from internal resources. After this acquisition, the company now holds about 8.88 BTC. The average cost per Bitcoin is about $97,021.71.
Under the Hong Kong Stock Exchange’s listing regulations, such an investment is under 5%, where such an investment is required to be notified formally. Therefore, no such total is achieved, and thus, such an announcement was made by the company on their behalf.
The firm committed to maintaining all disclosure requirements for future crypto asset investments. The exchange rate for illustrative purposes in announcing is HK$1 = US$0.1283. The company made explicit that such a rate is illustrative only and does not represent actual exchange values.
HK Asia Holdings Limited is among the expanding list of investment companies entering the Bitcoin world. Digital currencies continue to draw attention from traditional financial institutions amidst market volatility and uncertainties in regulations. The chairman, Mr. Siu Muk Lung, said that the company is intent on evaluating opportunities in cryptocurrencies while keeping in view financial regulations.
Bitcoin investment update: HK Asia holdings doubles down on digital currency
This move is an expression of increased confidence in Bitcoin by the business entity as an asset for holding. The expansion of capital by the business entity to include Bitcoin is consistent with institutional adoption on an institutional level. While there are businesses holding in abeyance investing in cryptocurrencies, there are businesses who regard them as part of a diverse portfolio.
The firm hasn’t announced whether it will buy more Bitcoins in the future. Nonetheless, the statement suggests future investment, subject to market demands and business strategies. The recent buy positions HK Asia Holdings Limited firmly in the world of cryptocurrency.
