HK Asia Holdings Limited has increased its Bitcoin holdings to nearly 9 BTC, just one week after its stock price doubled following its initial Bitcoin purchase.
In recent announcement, the Hong Kong-based investment firm stated that its board had approved expanding its Bitcoin investment, reaffirming its commitment to the asset.
The acquisition, which was funded using internal resources, increased HK Asia’s total Bitcoin holdings to 8.88 BTC. The average purchase price was 97,021 per coin, totalling approximately 861,500. The company’s initial purchase of Bitcoin on February 16 generated a strong market reaction, leading to a surge of investors buying its stock when the markets reopened.
Explaining the rationale behind its investment, HK Asia stated in its February 16 announcement that its board recognized the growing adoption of cryptocurrencies in the business world. This perspective influenced its decision to add Bitcoin to its balance sheet. In its latest update, the firm emphasized that its Bitcoin purchases remain below the legal disclosure threshold but voluntarily announced them.
The positive momentum continued, with HK Asia’s shares rising approximately 5.7% on February 24 during the Hong Kong Stock Exchange lunch break. According to Google, the stock was trading at around 6.66 Hong Kong dollars (86 cents), reflecting sustained investor interest.
HK Asia is among the growing number of publicly traded companies integrating Bitcoin into their balance sheets to diversify assets and enhance long-term earnings. Notable leaders like MicroStrategy and MetaPlanet are at the forefront, with MetaPlanet aiming to acquire 21,000 BTC by 2026, making it one of the largest corporate Bitcoin holders globally. To fund this acquisition, MetaPlanet plans to issue 21 million shares, raising approximately ¥116.65 billion (around $750 million), marking the largest equity capital raise for Bitcoin in Asia thus far and highlighting the ongoing trend of corporate adoption of cryptocurrency.
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