HK Asia Board Approves Bitcoin Investment, Acquires 7.88 BTC for $761,705

HK Asia Holdings Limited has expanded its Bitcoin holdings, purchasing approximately 7.88 BTC for $761,705 on Feb. 20.

The latest acquisition, approved by the company’s board, brings the Hong Kong-based investment firm’s total Bitcoin assets to roughly 8.88 BTC, valued at an average cost of $97,021 per coin, totaling around $861,500.

The company’s decision to increase its cryptocurrency exposure comes just a week after it bought its first Bitcoin on Feb. 16.

HK Asia Stock Surges 93% Following Initial Bitcoin Purchase

That initial purchase triggered a significant market reaction, with HK Asia’s stock price soaring nearly 93% by the close of trading on Feb. 17.

The bullish sentiment appears to have persisted; as of midday trading on Feb. 24, shares were up 5.7% on the Hong Kong Stock Exchange, trading at approximately 6.66 Hong Kong dollars (around $0.86).

If this momentum continues, HK Asia’s stock could surpass its June 2019 all-time high of 6.50 Hong Kong dollars (about $0.84), marking a staggering 1,700% gain so far in 2025.

HK Asia’s Bitcoin purchases were funded through internal resources, reflecting the company’s confidence in the long-term value of digital assets.

JUST IN: 🇭🇰 Publicly traded HK Asia Holdings Limited approved to buy more Bitcoin for its balance sheet. pic.twitter.com/YErDU3Sf1s

— Bitcoin Magazine (@BitcoinMagazine) February 23, 2025

In earlier statements, the board cited the “increasing popularity of cryptocurrencies in the commercial world” as a motivating factor behind its Bitcoin strategy.

While the recent acquisitions fall below the legal disclosure threshold, HK Asia voluntarily disclosed the transactions, highlighting a commitment to transparency amid rising investor interest.

The firm’s move aligns with a broader trend of publicly traded companies investing in Bitcoin as a means to enhance earnings and diversify treasury holdings.

Similar strategies have been adopted by several global firms seeking exposure to the cryptocurrency market.

Meanwhile, Bitcoin’s price has remained relatively stable over the past 24 hours, dipping less than 1% to trade at approximately $95,537.

The cryptocurrency has struggled to break above the psychological $100,000 mark since Feb. 5 and remains about 12% down from its Jan. 20 peak of $108,786.

Strategy Holds Largest Coporate Bitcoin Portfolio

As reported, Strategy, the business intelligence and Bitcoin acquisition firm formerly known as MicroStrategy, has announced plans to raise $2 billion through 0% senior convertible notes to further expand its Bitcoin holdings.

The company stated that net proceeds from the offering will primarily fund new Bitcoin acquisitions, with a portion allocated for general working capital.

The announcement came as the firm owns 478,740 BTC, valued at approximately $47 billion, with a dollar-cost average purchase price of $65,000 per coin.

Despite market volatility, the company’s Bitcoin holdings have delivered a 51% profit, boosting its stock price by 360% over the past year.

Looking to the future, Saylor predicted that the 21st century will be driven by artificial intelligence and digital currencies.

It is worth noting that several U.S. states, including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas, have also introduced bills that could enable them to hold Bitcoin and other cryptos as reserve assets.

Recently, Metaplanet has also expanded its Bitcoin portfolio with the acquisition of an additional 68.59 BTC, valued at approximately $6.6 million.