Shares in Hong Kong-based investment company HK Asia Holdings Limited have nearly doubled in value after buying just one bitcoin.
On February 16, the company's employees сообщили , that the organization purchased 1 BTC worth $96,150, financing the transaction with “internal resources.” They explained the transaction by the growing popularity of cryptocurrency in the commercial sphere.
The announcement of the purchase of Bitcoin caused a furor in the company's stock market immediately after the start of the trading session on Monday. Traders began buying up HK Asia Holdings Limited securities, so their rate took off by more than 95% in six hours and reached its highest value since January 2022.
However, the bull run ended on Tuesday, with the Hong Kong-based company's stock price falling 23% in a correction. However, the downward trend has slowed and the stock price has stabilized, suggesting that the upward trend will resume.
HK Asia Holdings Limited Stock Price Pump and Correction After Bitcoin Purchase
However, buying bitcoins does not always lead to an increase in the price of securities. For example, kriptovalyuta did not have a miraculous effect on the shares of Hong Kong construction company Ming Shing. On January 13, 2025, employees of this company announced the acquisition of 500 BTC worth $47 million by a subsidiary of Lead Benefit. Despite this, not only did not a bullish trend arise in the company's asset market, but a dump began, as a result of which the company's securities fell on 37%.
