HK Asias symbolic 1 Bitcoin purchase sparks nearly 93% stock surge
HK Asia Holdings made its first Bitcoin (BTC) purchase in what it described as a symbolic but strategic move toward integrating digital assets into its financial strategy.
The Hong Kong-listed company acquired 1 BTC on Feb. 13 for $96,150 approximately HK$750,000 using internal funds. While the transaction remains small in scale, the company framed it as a pivotal step in aligning with the evolving financial landscape.
The announcement caused the firms stock price to surge 92.98% to close the day at HK$5.50.
The purchase comes days after a major leadership overhaul. A consortium led by UTXO Management, Sora Ventures, Top Legend SPC, and Allied Top Investments recently took a majority stake in the company.
The company also appointed new board members, including David Bailey and John Riggins of BTC Inc. and Sora Ventures co-founder Jason Fang.
Riggins said:
This Bitcoin purchase is more than a transaction; its a bold step toward creating a vision for the future of the company.
HK Asia Holdings said the acquisition complies with listing rules that prevent major transactions during the companys general offer period, ensuring all applicable percentage ratios remain below the 5% threshold required for HKEX disclosure.
Despite its small size, the investment signals a shift in strategy under the new leadership, which aims to explore bitcoin investments, Web3 opportunities, and financial innovation.
Fang said:
Every journey begins with a single step. This first Bitcoin purchase signals a clear roadmap for what is to come in the coming months.
The company pointed to rising institutional adoption of Bitcoin, global economic uncertainty, and concerns over fiat currency depreciation as factors supporting the investment.
Its new owners, including UTXO Management and Sora Ventures, played a key role in Japans Metaplanet, often referred to as Asias MicroStrategy for its Bitcoin-focused strategy.
While HK Asia Holdings did not disclose further plans for digital asset acquisitions, its new leadership said it is committed to evaluating digital assets role in the companys financial future.
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