Hong Kong-based investment firm HK Asia Holdings Limited has significantly increased its Bitcoin holdings, acquiring approximately 7.88 BTC for $761,705 on February 20. This latest acquisition, approved by the company’s board, raises HK Asia’s total Bitcoin assets to 8.88 BTC, acquired at an average price of $97,021 per coin, bringing its total valuation to around $861,500.
Strategic Shift Toward Cryptocurrency Investment
The firm’s growing investment in Bitcoin underscores its confidence in the long-term value of digital assets. Notably, this purchase follows HK Asia’s initial Bitcoin investment on February 16, signaling a strategic pivot toward cryptocurrency exposure as a potential hedge against traditional market risks.
Stock Surges Following Bitcoin Acquisition
HK Asia’s initial Bitcoin purchase triggered a dramatic market response, propelling the company’s stock price up nearly 93% by the close of trading on February 17.
This bullish momentum has persisted, with HK Asia’s stock climbing an additional 5.7% as of midday trading on February 24. Trading at approximately 6.66 Hong Kong dollars ($0.86), the stock is approaching its June 2019 all-time high of 6.50 HKD ($0.84), marking an extraordinary 1,700% surge in 2025 alone.
Commitment to Transparency and Market Trends
HK Asia’s Bitcoin acquisitions were funded through internal resources, reflecting the company’s confidence in cryptocurrency as an asset class. In prior statements, the board cited the “growing mainstream acceptance of cryptocurrencies in the commercial sector” as a key factor influencing its Bitcoin strategy.
Although the recent purchases fall below the legal disclosure threshold, HK Asia voluntarily revealed the transactions, underscoring a commitment to transparency amid heightened investor interest. This move aligns with a growing trend of publicly traded companies incorporating Bitcoin into their treasury reserves as a diversification strategy.
Bitcoin Market Outlook and Corporate Adoption
Bitcoin’s price has remained relatively stable over the past 24 hours, dipping less than 1% to approximately $95,537. Despite its resilience, Bitcoin has struggled to break past the psychological $100,000 level since February 5 and remains about 12% below its January 20 peak of $108,786.
Strategy Leads Corporate Bitcoin Accumulation
Meanwhile, Strategy—the business intelligence and Bitcoin-focused firm formerly known as MicroStrategy—has announced an ambitious plan to raise $2 billion through 0% senior convertible notes to expand its Bitcoin holdings.
The company stated that the net proceeds from this offering will be primarily directed toward acquiring additional Bitcoin, with a portion allocated for general corporate purposes.
Currently, Strategy holds 478,740 BTC, valued at approximately $47 billion, with an average acquisition price of $65,000 per coin. Despite market volatility, the firm’s Bitcoin portfolio has generated a 51% return, propelling its stock price up 360% over the past year.
Looking ahead, company co-founder Michael Saylor has predicted that the 21st century will be defined by the convergence of artificial intelligence and digital currencies, emphasizing Bitcoin’s role as a foundational financial asset.
U.S. States and Global Firms Expand Bitcoin Holdings
In a parallel development, multiple U.S. states—including Illinois, Kentucky, Maryland, New Hampshire, New Mexico, North Dakota, Ohio, Pennsylvania, South Dakota, and Texas—have introduced bills exploring the possibility of holding Bitcoin and other cryptocurrencies as reserve assets.
Additionally, Japanese investment firm Metaplanet has expanded its Bitcoin portfolio, acquiring an additional 68.59 BTC valued at approximately $6.6 million. This move reflects a broader institutional embrace of Bitcoin as a strategic asset in treasury management.
As the corporate and regulatory landscapes continue evolving, the increasing adoption of Bitcoin by public companies and governments highlights its growing role as a mainstream financial instrument.