KULR Technology has acquired 217.18 Bitcoin for $21 million as part of its new Bitcoin Treasury strategy.
Bitcoin Treasury Strategy
KULR Technology has announced the purchase of 217.18 Bitcoin, spending approximately $21 million. This purchase is part of the newly adopted Bitcoin Treasury strategy, under which up to 90% of surplus cash will be invested in Bitcoin for long-term holding.
Using Coinbase Prime Platform
KULR Technology is using Coinbase Prime platform for custody and wallet services. The company plans to continue acquiring Bitcoin to diversify its cash reserves and benefit from Bitcoin’s potential as a digital store of value.
Rising Bitcoin Adoption Among Companies
KULR Technology, specializing in energy storage solutions for aerospace and defense industries, joins the ranks of companies integrating Bitcoin into their balance sheets. The company's strategy is similar to that of other corporations like MicroStrategy, which has significantly increased its Bitcoin holdings in recent years.
This initiative by KULR Technology highlights the growing interest in Bitcoin among major companies looking to leverage its potential as a long-term asset.
