KULR Technology Buys $21 Million in Bitcoin

KULR Technology Group, a listed company on the #NYSE exchange, has just spent $21 million to buy 217.18 Bitcoins, marking the first step in its strategy to convert idle cash into digital assets. The average purchase price was $96,556.53/Bitcoin. This move is part of a plan to allocate up to 90% of cash into Bitcoin in the long term.

New Move Boosts Stock Prices

KULR not only attracted attention with this decision but also received strong support from shareholders. A survey on the X platform showed that 67% of shareholders agreed. CEO Michael Mo shared:

"We are laying the first bricks for the future of money."

Immediately after the announcement, the stock #KULR skyrocketed 40% to $4.8, underscoring investor confidence in this Bitcoin strategy.

Bitcoin Hoarding Wave Spreads

Not only KULR, many large enterprises also participate in the trend of using $BTC as reserve assets:

  • Matador Technologies (Canada): On December 23, the company bought $4.5 million in Bitcoin as a long-term capital preservation measure.

  • Quantum BioPharma (USA): This biopharmaceutical company spends $1 million to invest in Bitcoin and other digital assets.

  • Metaplanet (Japan): With a purchase of 620 BTC, #metaplanet entered the top 15 largest Bitcoin holders globally.

MicroStrategy: A Trendsetter

MicroStrategy, which pioneered the Bitcoin treasury strategy in 2020, now owns over 444,000 BTC. The company aims to buy another $42 billion worth of Bitcoin over the next three years, further cementing its lead.

Future Vision

KULR CEO believes that the businesses of the future will be based on three pillars: artificial intelligence (AI), robotic automation, and digital currencies like Bitcoin. KULR believes that the industry is still in its infancy and will continue to boom as it integrates more deeply into the global economy.

Conclude

The move by KULR Technology and other major companies shows that Bitcoin is increasingly recognized as a strategic asset, far beyond its speculative role. This trend not only creates a new wave in the business world but also opens up a new future for digital currencies.