KULR Technology Group Energy Company unveiled its bitcoin start (Bitcoin) Treasury on December 4, buying 217.18 BTC for approximately $21 million, with an average purchase price of $96,556.53 per Bitcoin.
From 2023, KURL has been registered Nearly $11 million in total assets, making Bitcoin's coffers nearly double the figure reported last year.
This purchase represents the first phase of ongoing purchases under this plan. On December 4, the company revealed its plan to allocate up to 90% of its excess cash reserves to Bitcoin, putting it in the long term.
To facilitate your Bitcoin investment, KULR has partnered with Coinbase Prime. Crypto Custody Solutions Company, USD Coin (USDC) wallet service ensures strong support and self-governance, security and flexibility for KULR crypto-assets.
FOMO
Microstrategy The purchase of Bitcoin and the subsequent rise in stock prices over the past few years has potentially caused fear among other publicly traded companies.
Bitcoin miner Hut 8 Recently announced A $500 million program to add more bitcoins to its reserves, while Digital marathon It added 15,574 bitcoins last week after issuing nearly $2 billion in convertible notes.
In addition, online video platform Rumble used $20 million in additional cash to buy Bitcoin. followed By the Canadian company Jiva Technologies, which bought 1 million dollars of Bitcoin.
In India, technology company Jetking Infotrain was the first public company in the country to buy Bitcoin. Warehouse construction It is equivalent to 26% of its market size.
Commonly cited reasons behind institutional purchases of Bitcoin are to protect against inflation and add value to their companies.
mentioned in this article
Gino Matos
Gino Matos is a law school graduate and seasoned journalist with six years of experience in the crypto industry. His expertise is primarily focused on the Brazilian blockchain ecosystem and developments in decentralized finance (DeFi).
