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Addentax Group Targets $800 Million Crypto Acquisition Through Stock Issuance

16 May 2025
in Crypto, News
Reading Time: 3 mins read
108 1
Home News Crypto

Addentax Group Corp. (Nasdaq: ATXG) announced on May 15 that it is currently in discussions to acquire up to $800 million worth of Bitcoin and other digital assets, including the Official Trump token, through the issuance of common stock. Although no binding agreements have been reached, the company has engaged with several prominent cryptocurrency holders believed to control approximately 8,000 BTC collectively.

After Addentax Group Corp. announced its plan to acquire up to $800 million in Bitcoin and other cryptocurrencies, its stock ($ATXG) sharply declined. The stock closed on May 15 at $0.67, down 6.75% for the day. In after-hours trading, the decline accelerated, dropping another 10.45% to $0.60. 

Addentax Group Corp Stock. Source: Google Finance

This proposed acquisition represents a strategic pivot in Addentax’s long-term roadmap, underlining its growing commitment to blockchain innovation and digital asset investments. By pursuing this move, the company seeks to strengthen its balance sheet with highly liquid digital assets and aims to bring influential crypto stakeholders into its shareholder base. This approach could bolster both financial resilience and industry connectivity.

To reinforce this, CEO Hong Zhida emphasized that the initiative aligns with Addentax’s broader blockchain strategy.

“By acquiring established digital assets like Bitcoin and involving experienced crypto investors, we aim to build long-term value and stability,”

Zhida said. He added that the move also responds to the increasing institutional appetite for digital assets as dependable financial instruments.

In a related development underscoring the momentum behind institutional crypto adoption, Japanese investment firm Metaplanet has expanded its Bitcoin holdings by purchasing an additional 555 BTC. The firm disclosed spending approximately $53.4 million on the acquisition, securing the coins at an average price of $96,134 each. This move further signals rising confidence among major players in Bitcoin’s long-term value and its role within diversified investment strategies.

 

If you want to read more news articles like this, visit DeFi Planet and follow us on Twitter, LinkedIn, Facebook, Instagram, and CoinMarketCap Community.

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Jewel Buddy

Jewel Buddy

Buddy Jewel is a finance writer specializing in cryptocurrency news. With a keen eye on the latest developments in the digital asset space, I provides insightful and timely updates on the ever-evolving world of crypto.

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