HK Asia Holdings has made its first Bitcoin purchase (BTC) in a move it describes as a symbol but also strategic to integrate digital assets with its financial strategy.
The Hong Kong-listed company acquired 1 BTC on Feb. 13 for $96,150 — approximately HK$750,000 — using internal funds. The company said that although the scale of the transaction is small, it was a crucial step to align with the changing financial landscape.
The announcement caused the firm’s stock price to surge 92.98% to close the day at HK$5.50.
It comes just days after the major leadership change. Recently, a consortium consisting of UTXO Management and Sora Ventures as well as Top Legend SPC and Allied Top Investments took a major stake in the business.
Jason Fang and David Bailey, both co-founders of Sora Ventures from Sora Ventures Inc. as well as John Riggins and David Bailey are all new members on the board.
Riggins:
“This Bitcoin purchase is more than a transaction; it’s a bold step toward creating a vision for the future of the company.”
HK Asia Holdings said the acquisition complies with listing rules that prevent major transactions during the company’s general offer period, ensuring all applicable percentage ratios remain below the 5% threshold required for HKEX disclosure.
The investment, despite its size, signals a change in the strategy of the company under the new leadership. They are exploring bitcoin investments, Web3 possibilities, and financial innovations.
Fang said:
“Every journey begins with a single step. This first Bitcoin purchase signals a clear roadmap for what is to come in the coming months.”
As reasons to invest, the company cited rising institutional adoption, uncertainty in global economy, and fears over currency depreciation.
Its new owners, including UTXO Management and Sora Ventures, played a key role in Japan’s Metaplanet, often referred to as “Asia’s MicroStrategy”For its Bitcoin-focused strategic approach.
While HK Asia Holdings did not disclose further plans for digital asset acquisitions, its new leadership said it is committed to evaluating digital assets’ role in the company’s financial future.
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