Markets
Share this article

HK Asia Holdings Buys More Bitcoin in Hedge Against Depreciation of Fiat Currencies

The company bought another 10 bitcoin, signaling confidence in crypto as a long-term asset strategy.

By James Van Straten, AI Boost|Edited by Sheldon Reback
Updated Mar 21, 2025, 5:14 p.m. Published Mar 21, 2025, 3:19 p.m.
FastNews (CoinDesk)

What to know:

  • HK Asia Holdings bought another 10 BTC, taking its total bitcoin holdings to 18.88 BTC
  • The purchase was funded from internal cash reserves.
  • The company cited bitcoin's potential as a hedge against fiat depreciation and a strategic move to diversify assets and embrace blockchain technology.

HK Asia Holdings (1723) said it bought another 10 bitcoin BTC$68,324.61 for $858,581.

The Thursday purchase took the Hong Kong-listed company's total to around 18.88 BTC at a cost of roughly $1.72 million. The acquisitions were made via open market transactions and funded through internal cash reserves.

STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy.

In a statement, the company said it views bitcoin as a viable store of value amid global economic uncertainty, inflation concerns and expanding use of cryptocurrencies in investment strategies as well as "its potential to act as an effective hedge against depreciation of fiat currencies."

Disclaimer: Parts of this article were generated with the assistance from AI tools and reviewed by our editorial team to ensure accuracy and adherence to our standards. For more information, see CoinDesk’s full AI Policy.

Bitcoin NewsHong Kong

More For You

Michael Saylor's Strategy purchased $168 million in bitcoin last week

By Stephen Alpher
47 minutes ago
Michael Saylor, Executive Chairman of Strategy (MSTR)

The company's stack is now 717,131 bitcoin acquired for $54.52 billion, or $76,027 per coin. Bitcoin's current price is $68,000.

What to know:

  • Strategy (MSTR) added 2,486 bitcoin for $168.4 million in the last week.
  • The company's holdings now foot to 717,131 BTC acquired for $54.52 billion, or $76,027 per coin — substantially below the current price of $68,000.
  • Last week's buys were funded via common stock sales and the sale of the STRC preferred series.
Read full story