KULR Technology increased its Bitcoin holdings on January 6, 2025 by investing $21 Million.
This purchase increased the amount of Bitcoin in the company’s corporate treasury by 213.4 BTC.
KULR Expands Bitcoin Holdings With $21 Million Purchase
The acquisition was made possible by Coinbase Prime, and is in line with KULR’s strategic plan of allocating 90% of its reserves to Bitcoin.
According to Arkham Intelligence , blockchain analytics firm, KULR now has 430.6 BTC worth approximately $42 Million.
In less than a month, KULR made two significant Bitcoin purchases. The previous investment was also worth $21 millions and secured 217.18 BTC, at an average price per Bitcoin of $96,556.
This latest purchase demonstrates the company’s commitment to using Bitcoin as a corporate currency.
KULR’s Argument for increasing Bitcoin Reserves
Michael Mo, CEO at KULR Technology, explains the reasoning behind the move.
He said, “The distinctive characteristics of BTC would attract further serious interest, and it would be a good way to protect against current events, such as geopolitics and inflation, or any other macro and political events that impact the developed economies.”
Bitcoin’s limited supply, which is capped at 21,000,000 coins, makes it a valuable asset for businesses looking to hedge against inflation or economic instability.
KULR sees its Bitcoin Holdings, which support operational growth and planning on a long-term basis, as a critical component of its financial stability.
Institutional adoption of Bitcoin gains momentum
KULR Technology’s adoption of Bitcoin is in line with a broader trend among institutions.
Bitcoin has been incorporated into the treasury strategy of major companies such as MicroStrategy, Tesla and other large corporations. This reflects the increasing acceptance of cryptocurrency in the corporate world.
Tether, which is the largest stablecoin in the world, , has increased its Bitcoin holdings.
It added 8404.5 BTC worth almost $780 million to its Bitcoin reserves. This brings its total Bitcoin stash up to 83 759 BTC valued at around $7.75 billion.
