HK Asia Holdings Increases Bitcoin Holdings to Guard Against Fiat Devaluation
The company has acquired another 10 bitcoins, reaffirming its belief in the cryptocurrency as a long-term asset management strategy.
James Van Straten, AI Boost | Edited by Sheldon Reback Updated March 21, 2025 05:14 PM UTC Published March 21, 2025 03:19 PM UTC
Key facts:
- HK Asia Holdings purchased an additional 10 BTC, increasing its total Bitcoin holdings to 18.88 BTC.
- The deal was financed from internal cash reserves.
- The company highlighted Bitcoin's potential as a hedge against fiat currency devaluation and a strategic move toward asset diversification and blockchain technology adoption.
HK Asia Holdings (1723) reported purchasing another 10 Bitcoin (BTC) worth $858,581.
The deal, completed on Thursday, brings the Hong Kong-listed company's total assets to approximately 18.88 BTC, or about $1.72 million. The acquisitions were made on the open market and funded from its own cash reserves.
In a statement, the company noted that it sees Bitcoin as a reliable store of value in the face of global economic instability, inflation concerns, and the growing use of cryptocurrencies in investment strategies, as well as “its potential as an effective hedge against the devaluation of fiat currencies.”
Disclaimer: Portions of this article were generated by AI tools and reviewed by our editorial team to ensure accuracy and adhere to our standards. For more information, read CoinDesk’s full AI policy.
