KULR Technology Invests $21 Million in Bitcoin, Total Holdings Now 430 BTC
KULR Technology Group increased its Bitcoin holdings by investing $21 million on Monday, January 6, 2025.
This purchase added 213.4 BTC, reinforcing the company’s strategy of integrating Bitcoin into its corporate treasury.
KULR Expands Bitcoin Holdings with $21 Million Purchase
The recent acquisition was facilitated through Coinbase Prime and aligns with KULR’s strategic plan to allocate 90% of its cash reserves to Bitcoin.
This purchase brings KULR’s total Bitcoin holdings to 430.6 BTC, valued at approximately $42 million, according to blockchain analytics firm Arkham Intelligence.
In just over a month, KULR has made two notable Bitcoin purchases. The earlier investment, also worth $21 million, secured 217.18 BTC at an average price of $96,556 per Bitcoin.
With this latest purchase, the company reinforces its commitment to leveraging Bitcoin for its corporate treasury.
KULR’s Rationale for Increasing Bitcoin Reserves
Michael Mo, CEO of KULR Technology, explained the rationale behind the move.
He stated, “The distinct characteristics of BTC entail prospects for further serious interest and would stand guard against developing current events such as geopolitics, inflation, and any other macro-and political events impacting the developed economies.”
The limited supply of Bitcoin, capped at 21 million coins, makes it an appealing asset for companies aiming to hedge against inflation and economic instability.
KULR views its Bitcoin Holdings as a key component of its financial resilience, supporting operational growth and long-term planning.
Institutional Adoption of Bitcoin Gains Momentum
The adoption of Bitcoin by KULR Technology Group aligns with a broader institutional trend.
Major companies like MicroStrategy and Tesla have incorporated Bitcoin into their treasury strategies, reflecting the growing acceptance of cryptocurrency within the corporate world.
— Cryptonews.com (@cryptonews) January 6, 2025
@MicroStrategy Incorporated (Nasdaq: MSTR), a business intelligence software company, has continued its active Bitcoin acquisition strategy, acquiring 1,070 BTC for $101 million at $94,004 per bitcoin.#MSTR #BTChttps://t.co/e0yXIUb3eF
Tether, the issuer of the world’s largest stablecoin, has also increased its Bitcoin holdings.
It recently added 8,404.5 BTC, worth nearly $780 million, to its reserves, bringing its total Bitcoin stash to 83,759 BTC, valued at approximately $7.75 billion.
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KULR Technology Invests $21 Million in Bitcoin, Total Holdings Now 430 BTC
KULR Technology Group increased its Bitcoin holdings by investing $21 million on Monday, January 6, 2025.
This purchase added 213.4 BTC, reinforcing the company’s strategy of integrating Bitcoin into its corporate treasury.
KULR Expands Bitcoin Holdings with $21 Million Purchase
The recent acquisition was facilitated through Coinbase Prime and aligns with KULR’s strategic plan to allocate 90% of its cash reserves to Bitcoin.
This purchase brings KULR’s total Bitcoin holdings to 430.6 BTC, valued at approximately $42 million, according to blockchain analytics firm Arkham Intelligence.
In just over a month, KULR has made two notable Bitcoin purchases. The earlier investment, also worth $21 million, secured 217.18 BTC at an average price of $96,556 per Bitcoin.
With this latest purchase, the company reinforces its commitment to leveraging Bitcoin for its corporate treasury.
KULR’s Rationale for Increasing Bitcoin Reserves
Michael Mo, CEO of KULR Technology, explained the rationale behind the move.
He stated, “The distinct characteristics of BTC entail prospects for further serious interest and would stand guard against developing current events such as geopolitics, inflation, and any other macro-and political events impacting the developed economies.”
The limited supply of Bitcoin, capped at 21 million coins, makes it an appealing asset for companies aiming to hedge against inflation and economic instability.
KULR views its Bitcoin Holdings as a key component of its financial resilience, supporting operational growth and long-term planning.
Institutional Adoption of Bitcoin Gains Momentum
The adoption of Bitcoin by KULR Technology Group aligns with a broader institutional trend.
Major companies like MicroStrategy and Tesla have incorporated Bitcoin into their treasury strategies, reflecting the growing acceptance of cryptocurrency within the corporate world.
— Cryptonews.com (@cryptonews) January 6, 2025
Tether, the issuer of the world’s largest stablecoin, has also increased its Bitcoin holdings.
It recently added 8,404.5 BTC, worth nearly $780 million, to its reserves, bringing its total Bitcoin stash to 83,759 BTC, valued at approximately $7.75 billion.
The post KULR Technology Invests $21 Million in Bitcoin, Total Holdings Now 430 BTC appeared first on Cryptonews.
Read More