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HK Asia Holdings Limited saw its stock soar 93% following its first Bitcoin purchase, prompting the Hong Kong-based investment firm to acquire an extra 7.88 BTC for $761,705.
The board’s February 23 approval increased its total holdings to 8.88 BTC, bought at an average price of $97,021 per coin.
The investment firm’s stock continued climbing 5.7% by midday February 24, trading at 6.66 Hong Kong dollars ($0.86) on the Hong Kong Stock Exchange. This positions HK Asia shares to surpass their June 2019 all-time high of 6.50 Hong Kong dollars, marking a staggering 1,700% gain since the beginning of 2025.
“The board has approved the Company to further increase its investment in Bitcoin,” the firm stated in its announcement. HK Asia cited Bitcoin’s role as a “store of value amid global economic uncertainty” as motivation for the purchase.
The company’s modest investment contrasts with larger players like Strategy (formerly MicroStrategy), which recently purchased 20,356 Bitcoin worth approximately $2 billion, bringing its holdings to 499,096 BTC. Strategy now controls more than 2.3% of Bitcoin’s fully diluted supply.
Japan’s Metaplanet has also aggressively pursued Bitcoin acquisition, accumulating 2,031.5 BTC valued at $194.7 million. Their strategy has rewarded investors with a stock surge exceeding 3,900% in the past year.
Not all corporate Bitcoin adopters have seen positive results. Hong Kong-based construction company Ming Shing Holdings saw little stock movement despite its subsidiary purchasing 500 BTC for around $47 million last month. Its stock has declined nearly 40% this year.
HK Asia’s Bitcoin purchases were funded through internal resources, requiring no debt or external financing. Though below the 5% disclosure threshold under Hong Kong Stock Exchange rules, the company voluntarily announced the investment to maintain transparency with shareholders.
This corporate Bitcoin trend extends beyond Asia. Several U.S. states, including Utah, Kentucky, and West Virginia, have introduced legislation to allow state treasuries to invest in digital assets. On January 23, former U.S. President Donald Trump commissioned a working group to explore a federal digital asset reserve.
Bitcoin’s price has remained relatively stable, trading at 95,511.44 USD as of writing, fluctuating between $88,408.70 and $96,116.65 in the past 24 hours. This marks a 12% drop from its January 20 peak of $108,786. Despite the volatility, HK Asia’s move aligns with a growing trend of publicly traded firms investing in cryptocurrencies to boost earnings.
Whether this gamble pays off remains to be seen, but for now, investors are riding the wave.
