Basri Caneri 
Hong Kong-based investment firm HK Asia Holdings Limited has decided to increase its Bitcoin investments. The company announced the purchase of approximately 7.88 BTC on February 20, with its share value nearly doubling after its first Bitcoin purchase last week.
HK Asia’s Bitcoin Investment Grows
HK Asia Holdings announced on February 23 that the company’s board of directors approved the decision to increase its Bitcoin investments. In this context, it announced on February 20 that it purchased 7.88 BTC for approximately $761,705.
With the latest purchase, HK Asia’s total Bitcoin holdings reached 8.88 BTC, with an average cost of $97,021 per coin. The company’s total Bitcoin investment is currently at $ 861,500.
HK Asia started crypto investing on February 16, buying 1 BTC. Even this small investment had a big impact on the company’s share price. On February 17, with the opening of the Hong Kong stock exchange, investors showed great interest in the company’s shares, which rose 93%.
Company’s Share Value Nears Peak
Market interest in HK Asia’s Bitcoin investment continues to keep the company’s shares strong. On February 24, HK Asia shares traded on the Hong Kong Stock Exchange rose 5.7% to 6.66 Hong Kong dollars (US$0.86).
If this level is maintained, HK Asia shares could rise above the level of 6.50 Hong Kong dollars reached in June 2019. Since the beginning of 2024, the company’s share price has increased by an incredible 1,700%.
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