Tech Firm KULR Scoops Up $21,000,000 Worth of Bitcoin to Start New BTC Corporate Treasury

Power administration platform KULR Expertise is debuting its Bitcoin (BTC) treasury technique with the acquisition of $21 million value of the flagship crypto asset.

In a brand new assertion, the corporate says it purchased 217.18 BTC at a mean value of $96,556.53 per Bitcoin. The asset is at present buying and selling for $95,737.

KULR accomplished the acquisition simply weeks after announcing that it will embrace a Bitcoin treasury technique. On December 4th, the agency mentioned that it will allocate as much as 90% of its surplus money for BTC.

“The $21 million of BTC bought because the announcement is the primary of ongoing purchases the Firm intends to make going ahead.”

The agency says US-based crypto change Coinbase will present custody and self-custodial pockets providers for its BTC in addition to assist for the stablecoin USDC.

Corporations have been copying the Bitcoin treasury technique of software program agency MicroStrategy, which began shopping for BTC in 2020. So Far, MicroStrategy has seen billions of {dollars} in good points.

In November, YouTube rival Rumble introduced that its board of administrators has voted to approve a company treasury diversification technique that can allocate a portion of the corporate’s extra money reserves for Bitcoin.

Bitcoin mining firm MARA now owns 44,394 BTC value $4.25 billion following its acquisition of 15,574 BTC earlier this month. Medical know-how and software program firm Semler Scientific has additionally accrued 1,873 BTC value $179 million in its Bitcoin treasury holdings.

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