KULR launches Bitcoin treasury with $21m BTC buy

• The $21 million BTC buy follows the KULR’s announcement on Dec. 4.
• Different corporations to launch a Bitcoin treasury technique in current weeks embody Rumble, Marathon Digital, Semler Scientific and Thumzup.
• MicroStrategy is the most important company holder of Bitcoin with over 444k BTC

KULR Know-how Group, Inc., listed on the New York Inventory Alternate, is the most recent tech firm to undertake Bitcoin as a treasury asset.

A number of weeks after the power administration platform introduced plans so as to add BTC to its treasury, the corporate introduced on Dec. 26 that it had formally begun the initiative. KULR stated in a press launch that its first buy concerned 217.18 bitcoin acquired for $21 million.

KULR’s bitcoin bag was acquired on the common buy worth of $96,556.53 per BTC.

On Dec. 4, when the publicly-listed firm disclosed its Bitcoin treasury technique, it revealed plans that included allocating as much as 90% of the agency’s surplus money to the flagship cryptocurrency.

KULR Know-how Group, Inc. ( $KULR ) begins its Bitcoin Treasury technique with the acquisition of 217.18 $BTC for $21M, averaging $96,556 per BTC.

Utilizing $COIN ’s Prime platform for custody and wallets, KULR is allocating as much as 90% of surplus money to BTC.https://t.co/GClCvKTjUH pic.twitter.com/DFqAxDm0vS

— KULR Know-how (@KULRTech) December 26, 2024

With sentiment extraordinarily bullish amid the anticipation round pro-crypto Donald Trump’s administration, a number of corporations have adopted or disclosed plans so as to add BTC to their treasury methods..

These embody Rumble, Boyaa Interactive, Thumzup and BTC miner Marathon Digital.

Metaplanet grew to become generally known as ‘Asia’s MicroStrategy’ after adopting the BTC technique to steer the Asian cost. MicroStrategy has usually purchased Bitcoin since its first buy in 2020, and presently holds 444,262 BTC acquired for over $27 billion.

“The $21 million of BTC bought because the announcement is the primary of ongoing purchases the Firm intends to make going ahead,” KURL famous in its announcement on Boxing Day. Coinbase Prime will supply custody and pockets providers for KURL’s haul of BTC.

Bitcoin traded round $95,670 on the time of writing, about 3% down previously 24 hours.