In accordance with CoinJournal, KULR Technology Group, Inc., a company listed on the New York Stock Exchange, has initiated its Bitcoin treasury strategy by purchasing 217.18 BTC for $21 million. This acquisition, announced on December 26, 2024, marks the company's first step in allocating up to 90% of its surplus cash to Bitcoin. The average purchase price was $96,556.53 per BTC. KULR is utilizing Coinbase Prime for custody and wallet services. This move aligns with a broader trend among companies like Rumble and Marathon Digital, who are also adopting Bitcoin as a treasury asset amid a bullish sentiment in the market.
KULR Technology Acquires $21M in Bitcoin for Treasury Strategy
KuCoin NewsShare
Source:Show original
Disclaimer: The information on this page may have been obtained from third parties and does not necessarily reflect the views or opinions of KuCoin. This content is provided for general informational purposes only, without any representation or warranty of any kind, nor shall it be construed as financial or investment advice. KuCoin shall not be liable for any errors or omissions, or for any outcomes resulting from the use of this information.
Investments in digital assets can be risky. Please carefully evaluate the risks of a product and your risk tolerance based on your own financial circumstances. For more information, please refer to our Terms of Use and Risk Disclosure.