The Hong Kong-based investment holding company has joined many companies that incorporate Bitcoin into its balance sheet, turning part of its Treasury ministry into cryptocurrency.
HK Asia Holdings announced it has expanded its Bitcoin Reserve after the newly established board approved the acquisition.
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In X-Post, HK Asia Holdings has acquired an additional 10 Bitcoins worth around $858,581, increasing its total BTC holdings to 18.88 coins.
“The board announces this week’s purchase of 10 BTC and will promote the company’s asset allocation strategy,” the holding company said.
The group said in the open transaction that it “acquired a total of approximately 18.88 units of Bitcoin for a total consideration of approximately $1,720,157.41.”
https://t.co/dp4j6tzliw holds 18.88 BTC. The board announces this week’s purchase of 10 BTC, promoting the company’s asset allocation strategy. pic.twitter.com/9ebkye5mnu
– 1723.hk (@mooninchk) March 21, 2025
The purchase shows how Asian investment holding companies consider their eldest son’s cryptocurrency as a valuable storage and fight the depreciation of Fiat currency. HK Asia Holdings has disclosed the acquisition of BTC despite the Hong Kong Stock Exchange not requiring such disclosure. After the first Bitcoin acquisition, the company’s stock price almost doubled, recalling that on February 24th, the company’s shares rose 5.7%.
Asset allocation strategy
The Bitcoin acquisition is the third cryptocurrency investment held by HK Asia in over a month. The company explained that cryptocurrency acquisitions are part of the “group’s asset allocation strategy,” and that the company allocates part of the Treasury Ministry’s Ministry of Finance in cryptocurrency.
The board of directors of HK Asia Holdings recognizes the growing popularity of cryptocurrencies in the commercial industry, and companies are using cryptocurrencies to become part of investment portfolios like Bitcoin.
“The board believes that Bitcoin still has room for general cryptocurrencies, including Bitcoin as a reliable and valuable repository, one of the longest position and the largest cryptocurrencies in terms of market capitalization, to value Bitcoin,” the company said.
The group said the board has decided to invest in Bitcoin as the board is the largest cryptocurrency by market capitalization, as the price of cryptocurrency is so unstable. The group said the acquisition of Bitcoin will increase shareholder value over the long term.
“The board considers the acquisition of Bitcoin to be symbolic in scale and will serve as a key step in line with the evolving global financial landscape, diversifying the group’s investment portfolio and increasing the value of assets,” the investment holding company said.
According to the board, the investment move shows that the company has “a vision and determination to embrace the advancement of technology and therefore prepare to enter the blockchain industry.”
HK Asia Holdings made its first crypto acquisition on February 13, 2025 after purchasing BTC worth $96,000 at the time.
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