American power administration firm KULR Technology Group Inc. (NYSE American: KULR) on Thursday prompted a market stir, revealing that it bought 217.18 BTC for $21 million. The determination to build up the crypto amid the current market volatility comes falling in keeping with the agency’s Bitcoin Treasury technique launched earlier this month.
KULR Acquires $21M Worth BTC Sparking Market Discussions
In an official press release dated December 26, KULR Technology Group, Inc. introduced that it had accomplished the acquisition of 217.18 BTC for about $21 million. Per the corporate’s announcement, the typical worth for the acquisition was registered as $96,556.53 per Bitcoin.
Notably, the large buy falls in keeping with the power administration firm’s Bitcoin Treasury technique introduced on December 4, i.e., earlier this month. For context, the agency’s new treasury plan boasts of allocating as much as 90% of its surplus money to buy the flagship crypto. As an preliminary effort forging forward with this endeavor, KULR introduced the acquisition of $21 million price of BTC, as talked about above.
Also, the agency selected the Coinbase Prime platform to avail of custody, USDC, and self-custodial pockets companies for its BTC. Altogether, the large buy has set off waves of discussions throughout the broader trade because the crypto market at the moment faces turbulence while the acquisition paves a bullish path for the crypto’s future actions.
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