5 months ago
Energy institution KULR Technology Group unveiled the commencement of its Bitcoin (BTC) treasury connected Dec. 4 by acquiring 217.18 BTC for astir $21 million, astatine an mean acquisition terms of $96,556.53 per Bitcoin.
As of 2023, KURL registered astir $11 cardinal successful full assets, which makes its Bitcoin treasury astir doubly the fig reported past year.
This acquisition represents the archetypal signifier of ongoing purchases nether this initiative. On Dec. 4, the institution disclosed its program to allocate up to 90% of its surplus currency reserves into Bitcoin, positioning it arsenic a long-term.
To facilitate its Bitcoin investment, KULR partnered with Coinbase Prime. The crypto steadfast volition supply custody solutions, USD Coin (USDC) support, and self-custodial wallet services, ensuring robust information and flexibility for KULR’s crypto holdings.
FOMO
MicroStrategy BTC acquisitions and consequential banal terms increases implicit the past fewer years person perchance created a fearfulness among different publically traded companies of missing out.
Bitcoin miner Hut 8 recently announced a $500 cardinal program to adhd much BTC to its reserves, portion Marathon Digital added 15,574 BTC past week aft issuing astir $2 cardinal successful convertible notes.
Additionally, online video level Rumble utilized $20 cardinal successful excess currency to get Bitcoin, followed by the Canadian institution Jiva Technologies, which bought $1 cardinal worthy of BTC.
In India, tech institution Jetking Infotrain became the archetypal publically traded steadfast successful the state to bargain Bitcoin, building a stash equivalent to 26% of its marketplace size.
The commonly mentioned reasons down organization buying of Bitcoin are to hedge against ostentation and adhd worth to their companies.
The station KULR latest to adhd Bitcoin to firm treasury with $21 cardinal acquisition appeared archetypal connected CryptoSlate.
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