"Bitcoin as Future Currency"... US Space Company Buys $21 Million Worth

KULR Technology Group, a space technology company listed on the New York Stock Exchange (NYSE), has purchased Bitcoin worth 30 billion KRW.

KULR announced on the 26th (local time) that it has acquired 217.18 Bitcoins. The amount KULR invested in this Bitcoin purchase is $21 million (approximately 31 billion KRW). KULR bought Bitcoin at an average price of $96,556.53 per coin.

KULR plans to steadily acquire more Bitcoin as part of its future financial strategy. KULR stated, "This (Bitcoin) purchase is the first step in a long-term strategy to buy Bitcoin with up to 90% of surplus cash."

Most KULR shareholders are reportedly in favor of the Bitcoin purchase plan. In fact, KULR conducted a shareholder survey via X before purchasing Bitcoin and received positive feedback. Michael Mo, CEO of KULR, said, "We received overwhelming support (in the survey)" and "We believe Bitcoin is the currency of the future."

Purchasing Bitcoin as part of a financial strategy was first introduced by MicroStrategy in 2020. Currently, MicroStrategy holds Bitcoin worth $45 billion (approximately 65.35 trillion KRW). MicroStrategy plans to continue purchasing Bitcoin next year as well.