Bitcoin
Home” Bitcoin” KULR Technology embraces Bitcoin treasury technique with $21M purchase, stock increases 30%
by
Estefano Gomez
Dec. 26, 2024
KULR gets 217 Bitcoin worth $21 million, stock increases over 30% as part of its treasury technique, signing up with other companies in welcoming BTC.
Picture: KULR Technology
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KULR Technology has actually gotten in the Bitcoin market with a $21 million purchase of 217.18 BTC at a typical cost of $96,556 per Bitcoin.
The acquisition marks the primary step in the energy tech business’ s recently introduced Bitcoin Treasury method, revealed on December 4, which intends to designate as much as 90% of its surplus money into Bitcoin as a long-lasting possession.
Coinbase’ s Prime platform will supply custody, USDC, and self-custodial wallet services for the business’ s holdings.
Following the statement, KULR’ s stock skyrocketed by 30%, trading at $4.55 at press time.
KULR’ s move mirrors a growing pattern amongst business integrating Bitcoin into their balance sheets.
Marathon Digital Holdings presently holds 44,394 BTC, worth $4.2 billion, while Semler Scientific has actually included 2,084 BTC.
Quantum BioPharma just recently revealed a $1 million purchase of Bitcoin and other digital possessions, while Canadian company Matador Technologies revealed a $4.5 million Bitcoin acquisition on December 23.
Japanese financial investment company Metaplanet likewise just recently gotten 620 BTC, marking its largest-ever purchase.
By leveraging surplus money for Bitcoin, KULR follows business like MicroStrategy, whose Bitcoin financial investments have actually set the requirement for treasury techniques.
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