Last week, HK Asia Holdings Limited, a Hong Kong-based investment company, officially joined the ranks of public companies following a Bitcoin investment strategy. Since its first Bitcoin purchase, the company's shares have surged substantially.
HK Asia Increases Bitcoin Holdings
On February 16, HK Asia Holdings purchased its first Bitcoin token. Later, on February 20, the company added at least 7.88 more BTC tokens to its holdings. Currently, HK Asia's total BTC holdings are 8.88 tokens.
Price Surge After Bitcoin Purchase
When HK Asia first bought Bitcoin, the stock was around 3.19 HKD. The first working day post-purchase, February 17, saw the stock rise by 72.1%. Since then, HK Asia's stock has grown by 103.13%, with the current price at 6.50 HKD.
Could HK Asia’s Stock Hit a New High?
At the start of this year, HK Asia's stock was nearly 0.295 HKD. Since then, the market has seen a rise of 2137.29%. Experts believe that if the current price holds, the market may close above the previous all-time high of 6.50 HKD set in June 2019. Yesterday, HK Asia's closing price was 6.30 HKD, with an intraday high of 7.18 HKD.
HK Asia Holdings has chosen a Bitcoin investment strategy, following a trend among public companies aiming to boost earnings. This move has positively impacted the company's market value.
