Guofu Innovation (00290) issued an announcement stating that the board of directors has approved the company to further increase its investment in cryptocurrencies and virtual asset funds, and the company has conducted a series of transactions on the open market between March 2024 and August 2024 to purchase Bitcoin (BTC) with a total value of approximately HK$36 million (excluding transaction costs) (Purchase of Bitcoin). The above-mentioned purchase of Bitcoin was funded by the proceeds from the group's fundraising activities and internal resources.
On the other hand, the Group has been actively investing in the Web 3.0 sector, identifying and investing in Web 3.0 projects and start-ups that have the potential to disrupt traditional industries and have development prospects, and exploring the application prospects of Web 3.0 in financial technology. Cryptocurrency, as an important part of building the Web 3.0 Internet ecosystem and a circulating token based on blockchain technology, will be an important foundation for the Group to actively participate in the Web 3.0 sector. The Group will also actively empower the construction of the Group's business growth curve in the Web 3.0 sector by purchasing and holding cryptocurrencies. (ZhiTong Finance) #pepe
