KULR, a provider of electric energy storage solutions, has reported its first bitcoin purchase as part of a strategic shift toward establishing the leading cryptocurrency as a reserve asset. The company bought $21 million worth of bitcoin, amounting to 217.18 BTC. The purchase comes after the company announced that it would adopt a Bitcoin standard, putting 90% of its excess cash into BTC. KULR noted that this is just the first of a series of planned purchases and intends to make more going forward. Following this announcement, KULR shares skyrocketed, reaching all-time highs of over $5 in pre-market trading this Friday.

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