HK Asia's $761K Bitcoin buy boosts stock after 93% surge

HK Asia Holdings Limited has increased its investment in Bitcoin (CRYPTO:BTC), purchasing approximately 7.88 BTC for $761,705 on February 20, according to a recent announcement.

This acquisition brings the firm's total Bitcoin holdings to around 8.88 BTC, valued at approximately $861,500, with an average cost of $97,021 per coin.

The decision to increase cryptocurrency exposure came shortly after the company's initial Bitcoin purchase on February 16, which significantly impacted the market.

Following the first purchase, HK Asia's stock price soared nearly 93% by the close of trading on February 17.

The bullish trend continued, with shares up 5.7% on the Hong Kong Stock Exchange as of midday trading on February 24, trading at approximately 6.66 Hong Kong dollars (around $0.86).

"The board has approved the Company to further increase its investment in Bitcoin," the company stated in a February 23 announcement.

According to reports, if this momentum persists, HK Asia’s stock could surpass its June 2019 all-time high of 6.50 Hong Kong dollars (about $0.84), marking a 1,700% gain so far in 2025. 

The purchases were funded through internal resources, demonstrating confidence in the long-term value of digital assets.

HK Asia's board cited the “increasing popularity of cryptocurrencies in the commercial world” as a motivating factor behind its Bitcoin strategy.

While the recent acquisitions are below the legal disclosure threshold, HK Asia voluntarily disclosed the transactions, emphasising a commitment to transparency.

This move aligns with a broader trend of publicly traded companies investing in Bitcoin to enhance earnings and diversify treasury holdings.

At the time of reporting, the Bitcoin (BTC) price was $95,817.34.