A Hong Kong-based investment holding company has joined many firms which are incorporating Bitcoin of their balance sheets, turning a part of the corporate’s treasury into cryptocurrency.

HK Asia Holdings announced that it expanded its Bitcoin reserve after its newly formed board approved the acquisition.

Buying More Bitcoins

In an X post, HK Asia Holdings revealed that it acquired a further 10 Bitcoins price around $858,581, raising its total BTC holding to 18.88 coins.

“The Board is pleased to announce this week’s purchase of 10 BTC, furthering the corporate’s asset allocation strategy,” the holdings company said.

The Group said within the discloseable transaction it has already “acquired a complete of roughly 18.88 units of Bitcoin for an aggregate consideration of roughly $1,720,157.41.”

https://t.co/Dp4J6tzliw now holds 18.88 BTC. The Board is pleased to announce this week’s purchase of 10 BTC, furthering the corporate’s asset allocation strategy. pic.twitter.com/9eBKYE5mnu

— 1723.HK (@MoonIncHK) March 21, 2025

The acquisition indicates that the Asian investment holding company sees the firstborn cryptocurrency as a store of value and a solution to fight fiat currency depreciation. HK Asia Holdings disclosed the BTC acquisition despite the Hong Kong Stock Exchange not requiring such disclosure. It could actually be recalled that after its initial Bitcoin acquisition, the corporate’s stock price almost doubled, while the firm’s shares soared by 5.7% on February 24.

Asset Allocation Strategy

The Bitcoin acquisition is the third cryptocurrency investment of HK Asia Holdings in over a month. The corporate explained that the crypto acquisitions are a part of the “Group’s asset allocation strategy” wherein the corporate allocates a portion of its treasury in cryptocurrencies which might function a type of diversification to holding money in treasury management.

HK Asia Holdings’ board saw a chance within the increasing popularity of cryptocurrencies within the industrial world, with firms tapping cryptocurrencies to develop into a part of their investment portfolios, like Bitcoin. 

“The Board believes that there remains to be room for cryptocurrencies basically, including that for Bitcoin as a dependable store of value which is considered one of the longest standing and the biggest cryptocurrencies by way of market capitalization, to understand in value,” the firm said.

The Group remarked that the Board observed that cryptocurrency prices are highly volatile, hence the Board decided to speculate in Bitcoin since it is the biggest cryptocurrency by market capitalization. The group said that the Bitcoin acquisition will enhance the shareholder’s value in the long run.

“The Board believes that the Bitcoin Acquisitions are symbolic in scale, and mark a big step toward aligning with the evolving global financial landscape, and would diversify the group’s investment portfolio and enhance its asset value,” the investment holding company said.

The investment move, in keeping with the Board, demonstrates that the corporate has “the vision and determination to embrace technological evolution, and hence preparing its foray into the blockchain industry.”

HK Asia Holdings made its first crypto acquisition on February 13, 2025, after the corporate bought 1 BTC price $96,000 on the time.

Featured image from Pexels, chart from TradingView

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