Investment firm HK Asia Holdings Limited has announced its decision to increase its Bitcoin holdings in a move that can be considered both bold and prudent. In a recent announcement on February 23, the company confirmed that its board of directors had approved further investments in Bitcoin. Just a week after its stock price doubled following its first cryptocurrency purchase, HK Asia purchased 7.88 Bitcoin, worth approximately $761,705.

The company’s current Bitcoin holdings stood at approximately 8.88 BTC. The average purchase price was $97,021 per coin, bringing the total value to approximately $861,500.

The company's statement noted that the decision to purchase Bitcoin was prompted by "the growing popularity of cryptocurrencies in the commercial world." In addition, HK Asia emphasized that its cryptocurrency purchases were below the threshold at which it is required to share this information, but made the announcement "on a voluntary basis."

The decision underscores HK Asia's confidence in the future of cryptocurrencies and its desire to adapt to the changing financial landscape, where Bitcoin is increasingly taking center stage.