Asian firms ramp up Bitcoin buys: Metaplanet, HK Asia lead charge

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The story "Asian firms ramp up Bitcoin buys: Metaplanet, HK Asia lead charge" was covered 13 hours ago by Coin Telegraph, a news publisher based in United States.

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Coin Telegraph 13h ago

Asian firms ramp up Bitcoin buys: Metaplanet, HK Asia lead charge - Coin Telegraph

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Related: Strike’s Mallers to head firm seeking superior Bitcoin play to MSTRHK Asia Holdings to raise $8.35 million for BTC purchasesHK Asia Holdings Limited has also announced plans to raise approximately $65 million Hong Kong dollars ($8.35 million) by issuing new shares and convertible notes to potentially buy more BTC.

Related: Bitcoin exchange buying is back as ‘Spoofy the Whale’ lifts $90K asksSaylor’s Strategy champions Bitcoin strategyMichael Saylor’s Strategy, one of the world’s largest publicly listed corporate Bitcoin holders, has championed the Bitcoin accumulation strategy by consistently issuing convertible notes and at-the-market (ATM) equity offerings to fund aggressive Bitcoin purchases.

While the filing does not mention that HK Asia Holdings intends to use the funds to buy Bitcoin, many in the crypto community speculated that the capital raise is expected to fund further Bitcoin acquisitions.