#Publicly traded company buys $21 million in Bitcoin.#
Hot Topic Overview
Overview
KULR Technology, a New York Stock Exchange-listed company, recently 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.
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 plan and has allocated 90% of the company's cash holdings to purchase Bitcoin. The company first purchased 217.18 Bitcoin on December 24th for $21 million and today, it has again withdrawn 213.4 Bitcoin from Coinbase Prime for approximately $21 million. Currently, KULR Technology holds a total of 430.6 Bitcoin, valued at approximately $42 million. The company stated that it will continue to advance its Bitcoin treasury strategy and will use Bitcoin as a primary asset in its financial plan. This move indicates that more and more publicly listed companies are starting 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 investing in Bitcoin as a primary asset and consider it a key part of their financial plans.
The company has allocated 90% of its cash reserves to purchase Bitcoin and is continuously advancing its Bitcoin treasury strategy.
The company purchased Bitcoin through Coinbase Prime and has accumulated over 400 Bitcoins.
The company announced its Bitcoin treasury strategy in December 2024 and has made two purchases.