Another Giant Company from Asia Boards the Bitcoin Ship: Took the First Step!

After being acquired by UTXO Management, Hong Kong Asia Holdings Limited completed its first Bitcoin asset allocation, signaling a strategic shift and officially entering the BTC market.

In an announcement made to the Hong Kong Securities Exchange, the company revealed that it had used its internal resources to purchase approximately 96,150 dollars' worth of Bitcoin from the open market for 750,000 HK$(. This move marks the beginning of the company's Bitcoin-focused investment strategy.

UTXO Management, a subsidiary of BTC Inc, the parent company of Bitcoin Magazine, had successfully led a Bitcoin strategy at Metaplanet, a Japanese exchange that had previously been one of the top-performing stocks globally in 2024. The acquisition of Hong Kong Asia Holdings and its subsequent focus on Bitcoin signals a similar approach to leverage the increasing institutional adoption of Bitcoin.

As part of this transformation, the company demonstrated its desire to expand further into the Asian market by appointing four new board members, including BTC Inc. founder David Bailey and co-founder John Riggins. Additionally, Hong Kong Asia Holdings announced plans to rebrand as 'Moon Inc.' in line with its new strategic direction.