NYSE American-listed KULR Technology Group Inc. (NYSE: KULR) recently announced the purchase of 217.18 bitcoins (BTC) for approximately $21 million, according to a 4th-quarter financial report filed with the U.S. Securities and Exchange Commission (SEC). The average price paid per bitcoin was $96,556. Earlier this month, KULR's board of directors had authorized the addition of bitcoin to its balance sheet and the allocation of 90% of its excess cash into bitcoin investments. This move signals KULR's growing interest in digital assets and its belief in the potential of bitcoin. The acquisition of a substantial amount of bitcoin by a publicly traded company like KULR could contribute to the increasing adoption of cryptocurrencies by mainstream financial institutions. It also highlights the growing acceptance and recognition of bitcoin as a legitimate asset class.

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