#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 adopt 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 withdrew another 213.4 BTC from Coinbase Prime, worth approximately $21 million. Currently, KULR Technology holds a total of 430.6 BTC, valued at approximately $42 million.
Ace Hot Topic Analysis
Analysis
KULR Technology, a New York Stock Exchange-listed company, recently announced that it will be using Bitcoin as a primary asset in its financial plans and has begun executing a strategy to purchase 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 an increasing number of publicly traded companies are beginning to view Bitcoin as a significant asset and are incorporating it into their financial strategies.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Listed companies are investing in Bitcoin as a primary asset and incorporating it into their financial plans.
The company is converting 90% of its cash reserves to Bitcoin.
KULR Technology has made two Bitcoin purchases, totaling 430.6 BTC.
KULR Technology withdrew 213.4 BTC from Coinbase Prime, worth approximately $21 million.