Hong Kong-based CIMG INC has announced its intention to sell shares for Bitcoin, underscoring the growing interest in cryptocurrencies across Asia.
Rising Interest in Cryptocurrency in Asia
Interest in cryptocurrencies in the Asian market is on the rise. At the time of writing, Bitcoin reclaimed support at $112,000 and is aiming to surpass the $112,500 level. Optimism surrounding both Bitcoin and altcoins is once again growing.
The CIMG INC Deal
CIMG INC, which owns brands such as Kangduoyuan, Maca-Noni, Qianmao, Huomao, and Coco-mango, has announced the sale of shares to acquire Bitcoin. The company has reached agreements with nine investors located outside the United States, who will purchase shares worth $55 million by paying 500 BTC. The investors agreed to pay $0.25 per share, opting for Bitcoin instead of dollars.
Companies with Bitcoin Reserves
The CIMG Board noted that investing in Bitcoin offers unique exposure to crypto assets. Among the leading companies holding Bitcoin reserves, Strategy is noted for holding 632,457 BTC. The majority of the top companies are based in the United States, with the Japanese investor Metaplanet holding 18,991 BTC. Additionally, Chinese companies Next Technology and Cano hold reserves ranging from 4,000 to 6,000 BTC.
The CIMG INC deal highlights a shift in investment approaches to cryptocurrencies in Asia, indicating new opportunities and prospects for further development in the sector.
