HK Asia Holdings Buys More BTC in Hedge Against Depreciation of Fiat Currencies

HK Asia Holdings (1723) stated it purchased one other 10 bitcoin (BTC) for $858,581.

The Thursday buy took the Hong Kong-listed firm’s complete to round 18.88 BTC at a value of roughly $1.72 million. The acquisitions had been made by way of open market transactions and funded by inside money reserves.

In an announcement, the corporate stated it views bitcoin as a viable retailer of worth amid international financial uncertainty, inflation issues and increasing use of cryptocurrencies in funding methods in addition to “its potential to act as an effective hedge against depreciation of fiat currencies.”

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