KULR Technology strengthens its Bitcoin treasury position with an additional 213.4 BTC purchase, following MicroStrategy’s model as more public companies embrace cryptocurrency investments.
By John Caroline
Edited by Marco T. Lanz
Updated
2 mins read
Leading technological thermal management company KURL doubled its Bitcoin holdings on Monday by purchasing another 213.4 BTC, worth $21 million.
KULR had previously disclosed plans to buy more Bitcoin in the future after successfully purchasing its first-ever Bitcoin stash for the same $21 million. The firm joined the list of public companies to own a Bitcoin Treasury on Dec. 26.
Earlier that month, KULR Technology launched its Bitcoin Treasury strategy, reviling its decision to accumulate the leading cryptocurrency continuously. While this decision appeared to have been inspired by recent market volatility, KULR committed up to 90% of its surplus cash reserves to the Treasury.
According to reports, KULR’s total purchases have been funded with the proceeds from its surplus cash and the At-The-Market (ATM) equity program.
Following its latest purchase, KULR has increased its Bitcoin purchases to $42 million, bringing its holdings to 430 BTC $93 672 24h volatility: 1.2% Market cap: $1.86 T Vol. 24h: $29.90 B . While its first Bitcoin investment was made at an average price of $96,556.53 for each coin, KULR made the recent purchase at an average price of $98,393.58 per Bitcoin.
Notably, KULR has made decent progress in its Bitcoin investment scheme, and the positive momentum has also extended to its market performance. Shortly after making its first investment in Bitcoin, its stock accelerated to an all-time high of $4.80.
While the price of Bitcoin had kicked off to an impressive start this year, the firm has already generated a BTC yield of 93.7% in just two weeks since its first purchase. Although the BTC yield is not a measure of KULR’s operating performance, it interprets the performance of the firm’s Bitcoin acquisition strategy, suggesting a positive outcome for its Bitcoin ventures so far.
MicroStrategy’s successful Bitcoin investment strategy has become a blueprint for public companies seeking to diversify their treasury holdings. As corporations like KULR Technology, Marathon Digital Holdings (MARA), and Japanese firm Metaplanet adopt similar approaches, allocating substantial portions of their reserves to Bitcoin, this wave of corporate adoption signals a transformative shift in traditional treasury management and reinforces Bitcoin’s evolution into a mainstream financial asset.
Will more companies follow this trend as Bitcoin continues to break price records and institutional adoption grows?
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Caroline is a zealous writer who recently picked interest in Bitcoin and the cryptocurrency community. She's always learning about the industry and aims to provide timely and accurate information about the latest developments in the crypto space
