#Publicly traded company buys $21 million in Bitcoin.#
Hot Topic Overview
Overview
KULR Technology, a New York Stock Exchange-listed company, recently announced a strategy to make Bitcoin a primary asset in its financial plan. The company has withdrawn 217.18 Bitcoin on December 24th and 213.429 Bitcoin recently from Coinbase Prime, totaling 430.605 Bitcoin, valued at approximately $42.59 million. The company plans to convert 90% of its cash reserves to Bitcoin and has completed two purchases so far.
Ace Hot Topic Analysis
Analysis
KULR Technology, a publicly traded company listed on the New York Stock Exchange, has announced that it will be using Bitcoin as a primary asset in its financial plans. The company recently withdrew 213.429 BTC, worth approximately $21.09 million, from Coinbase Prime. This is the company's second Bitcoin purchase, following its initial purchase of 217.18 BTC on December 24th. KULR Technology currently holds 430.605 BTC, worth approximately $42.59 million. The company stated that its goal is to purchase 90% of its cash holdings in Bitcoin to achieve its Bitcoin treasury strategy. This move indicates that more and more publicly traded companies are beginning to view Bitcoin as a significant asset and are incorporating it into their financial plans.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Listed companies are making strategic investments in Bitcoin as a primary asset, converting 90% of their cash reserves to Bitcoin.
KULR Technology has made two Bitcoin purchases, totaling 430.6 BTC, worth approximately $42 million.
KULR Technology has withdrawn 213.4 BTC from Coinbase Prime, worth approximately $21 million.
KULR Technology's Bitcoin treasury strategy demonstrates its confidence in cryptocurrency and its view of it as a valuable asset.