Addentax Group has announced plans to acquire Bitcoin worth $800 million as part of its asset diversification strategy.
Addentax's Diversification Strategy
The company aims to diversify its balance sheet by including highly liquid and well-known digital assets. This move is also aimed at attracting strategic shareholders with experience in the crypto sector.
Potential Sellers and Assets
Although a definitive agreement has not yet been reached, Addentax is engaged in talks with influential crypto holders who reportedly control 8,000 BTC as well as other assets.
Company's Long-Term Plans
CEO Hong Zhida emphasized the long-term nature of the plan, stating: "This initiative supports the Company’s broader blockchain strategy by facilitating potential acquisitions of digital assets."
If completed, this acquisition would mark a significant shift for Addentax, providing the company with access to crypto markets and potentially influential backers.
