Hong Kong Investment Firm Expands Bitcoin Holdings, Shares Surge
HK Asia Holdings Limited, a Hong Kong-based investment firm, has significantly increased its Bitcoin holdings, purchasing an additional 7.88 BTC for approximately $761,705 on February 20, 2025. This latest acquisition brings the company’s total Bitcoin holdings to 8.88 BTC, with an average cost of $97,021 per coin, totaling around $861,500.
The company’s board approved the expansion of its Bitcoin investment, citing the “increasing popularity of cryptocurrencies in the commercial world” as a key factor in their decision. This move follows HK Asia’s initial purchase of 1 BTC on February 16, which led to a remarkable 93% surge in the company’s share price when markets reopened on February 17.
The impact on HK Asia’s stock has been substantial:
- Shares were up 5.7% as of the lunch break on February 24 on the Hong Kong Stock Exchange
- Trading at approximately 6.66 Hong Kong dollars (86 cents)
- The stock price has increased by 1,700% so far this year
- Poised to potentially close above its June 2019 all-time high of 6.50 Hong Kong dollars (84 cents)
HK Asia’s Bitcoin investment strategy aligns with a growing trend among publicly traded companies seeking to boost earnings through cryptocurrency holdings. The firm made the announcement of its Bitcoin purchases voluntarily, as the amount falls below the legal threshold requiring disclosure.
HK Asia Holdings Limited’s stock price experienced a dramatic surge following its initial Bitcoin purchase. On February 17, 2025, when markets reopened after the company’s announcement of buying 1 BTC for approximately $96,150 on February 13, the stock price soared by nearly 93%. This significant increase brought the share price to 5.50 Hong Kong dollars (71 cents), approaching its June 2019 peak of 6.50 Hong Kong dollars (84 cents).
The sudden stock surge highlighted investor enthusiasm for companies entering the Bitcoin market:
Shares nearly doubled within a single trading day.
Stock opened at around 40 cents before spiking to its closing price.
Closing price reached 5.50 Hong Kong dollars (71 cents).
Meanwhile, Bitcoin’s price has remained relatively stable, trading at $95,537, down less than 1% over the past 24 hours. The cryptocurrency has been trading below the $100,000 mark since February 5, 2025, and is currently 12% below its January 20 peak of $108,786.
This development highlights the increasing interest of traditional investment firms in cryptocurrencies and their potential impact on company valuations and stock performance.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
