- The $21 million BTC purchase follows the KULR’s announcement on Dec. 4.
- Other corporations to launch a Bitcoin treasury technique in current weeks embrace Rumble, Marathon Digital, Semler Scientific and Thumzup.
- MicroStrategy is the most important company holder of Bitcoin with over 444k BTC
KULR Technology Group, Inc., listed on the New York Stock Exchange, is the newest tech firm to undertake Bitcoin as a treasury asset.
A number of weeks after the vitality administration platform announced plans so as to add BTC to its treasury, the corporate introduced on Dec. 26 that it had formally begun the initiative. KULR mentioned in a press launch that its first purchase concerned 217.18 bitcoin acquired for $21 million.
KULR’s bitcoin bag was acquired on the common purchase worth of $96,556.53 per BTC.
On Dec. 4, when the publicly-listed firm disclosed its Bitcoin treasury technique, it revealed plans that included allocating as much as 90% of the agency’s surplus money to the flagship cryptocurrency.
KULR Technology Group, Inc. ( $KULR ) begins its Bitcoin Treasury technique with the purchase of 217.18 $BTC for $21M, averaging $96,556 per BTC.
Using $COIN ’s Prime platform for custody and wallets, KULR is allocating as much as 90% of surplus money to BTC.https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS
— KULR Technology (@KULRTech) December 26, 2024
With sentiment extraordinarily bullish amid the anticipation round pro-crypto Donald Trump’s administration, a number of corporations have adopted or disclosed plans so as to add BTC to their treasury methods..
These embrace Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.
Metaplanet grew to become often called ‘Asia’s MicroStrategy’ after adopting the BTC technique to guide the Asian cost. MicroStrategy has usually purchased Bitcoin since its first purchase in 2020, and presently holds 444,262 BTC acquired for over $27 billion.
“The $21 million of BTC purchased since the announcement is the first of ongoing purchases the Company intends to make going forward,” KURL famous in its announcement on Boxing Day. Coinbase Prime will provide custody and pockets companies for KURL’s haul of BTC.
Bitcoin traded round $95,670 on the time of writing, about 3% down prior to now 24 hours.
