#Publicly traded company buys $21 million in Bitcoin.#
Hot Topic Overview
Overview
KULR Technology, a New York Stock Exchange-listed company, announced that it has invested 90% of its cash reserves in Bitcoin. The company recently withdrew 213.4 BTC, worth approximately $21 million, from Coinbase Prime, marking its second Bitcoin purchase. KULR Technology currently holds 430.6 BTC, valued at approximately $42 million. The company stated that it will continue to execute its Bitcoin treasury strategy and will treat Bitcoin as a primary asset in its financial plans.
Ace Hot Topic Analysis
Analysis
KULR Technology, a New York Stock Exchange-listed company, has announced that it will be using Bitcoin as a primary asset in its financial plan and has purchased 90% of the company's cash holdings in BTC. The company first purchased 217.18 BTC on December 24th for $21 million and recently acquired another 213.4 BTC from Coinbase Prime for approximately $21 million. Currently, KULR Technology holds a total of 430.6 BTC, valued at approximately $42 million. This move indicates that more and more publicly traded companies are beginning to incorporate Bitcoin into their investment portfolios and view it as a significant asset class.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Listed companies are making strategic investments in Bitcoin as a primary asset.
KULR Technology is converting 90% of its cash reserves to Bitcoin.
KULR Technology has made two Bitcoin purchases, totaling 430.6 BTC.
KULR Technology's Bitcoin purchase strategy demonstrates its confidence in cryptocurrency and its long-term investment plans.