Summary
- Hong Kong's HK Asia Holdings reported purchasing an additional 10 Bitcoin.
- The purchase amount totals $858,581, increasing the company's Bitcoin holdings to 18.88 BTC.
- The company stated that it considers Bitcoin a hedge against economic uncertainty and inflation.
Hong Kong-based investment firm HK Asia Holdings announced that it has purchased an additional 10 Bitcoin (BTC).
According to cryptocurrency-focused media outlet CoinDesk on the 21st (local time), the purchase amounts to a total of $858,581, increasing the firm's Bitcoin holdings to 18.88 BTC.
HK Asia Holdings stated that it acquired the Bitcoin through open market transactions and used internal cash reserves for the purchase.
Additionally, it explained that "Bitcoin is considered a hedge against global economic uncertainty, inflation concerns, and the depreciation of fiat currencies."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
