tl;dr
Energy storage company KULR Technology Group has purchased an additional $9 million in Bitcoin for its corporate treasury, now holding 800.3 tokens worth about $85 million. The company bought Bitcoin at an average price of $103,234 per token. Bitcoin's price recently traded around $106,200, up over ...
KULR Technology Group, an energy storage company specializing in aerospace, space, and defense sectors, has bolstered its Bitcoin holdings by purchasing an additional $9 million worth of the cryptocurrency. This acquisition increases their total Bitcoin stash to 800.3 tokens, valued at approximately $85 million based on current market prices. The average purchase price for these tokens was $103,234 each, with Bitcoin recently trading near $106,200, marking a surge of over 25% in the past month.
KULR’s Bitcoin Treasury Strategy, launched last December, aims to hold up to 90% of its surplus cash reserves in Bitcoin—a move reflecting a growing trend among public companies to embrace digital assets. This strategy coincides with heightened crypto market activity fueled by a Trump-supported rally and is set against the backdrop of an upcoming high-profile dinner hosted by former President Donald Trump with prominent holders of his meme coin, Official Trump.
Other major players are also expanding their Bitcoin treasuries. Michael Saylor’s firm, Strategy (formerly MicroStrategy), recently increased its holdings by $764.9 million, now controlling over 576,000 Bitcoins worth about $61 billion. Similarly, Japan-based Metaplanet acquired $104.8 million more in Bitcoin, bringing its total to roughly 7,800 tokens valued at over $826 million.
This wave of corporate Bitcoin accumulation highlights the digital asset’s growing acceptance as a treasury reserve and hedge against traditional market volatility. As Bitcoin approaches its recent highs near $105,000, companies like KULR and Strategy exemplify how institutional investors are navigating and capitalizing on the evolving landscape of cryptocurrency investment.