• KULR Technology Group diversifies its financial strategy by acquiring 217.18 BTC, marking a bold step into cryptocurrency.
  • Israel introduces six Bitcoin mutual funds, offering regulated access and seamless market exposure through leading financial institutions.

KULR Technology Group has purchased  217.18 Bitcoin (BTC) for $21 million. With an average acquisition cost of $96,556 per BTC, this calculated investment represents the company’s entry into the Bitcoin treasury approach.

The disclosure of this noteworthy allocation not only emphasizes KULR’s dedication to diversifying its financial portfolio but also points to an increasing trend among publicly traded corporations, including Bitcoin as a main component of their asset management techniques.

📢 JUST IN: ENERGY MANAGEMENT PLATFORM @KULRTECH BEGINS BITCOIN TREASURY STRATEGY WITH THE PURCHASE OF 217.18 $BTC FOR $21M

— BSCN Headlines (@BSCNheadlines) December 26, 2024

Corporate Confidence in Bitcoin as a Treasury Asset 

With KULR’s choice, the market responded favorably; its stock price shot to an all-time high of $4.80 per share. Investors’ optimism in KULR’s forward-looking approach and their confidence in the potential of Bitcoin as a long-term store of value show in this explosive climb.

In line with its larger financial strategy to counteract inflation and take advantage of the expansion possibilities of digital assets, the corporation has announced intentions to invest up to 90% of its extra cash reserves into Bitcoin. This decision reflects similar behavior of other well-known businesses, including MicroStrategy , which, under Michael Saylor’s direction, has aggressively acquired Bitcoin.

On this day, companies all over are starting to trend using Bitcoin as the main treasury asset. For instance, the education-oriented company Genius Group recently revealed its Bitcoin-first strategy, classifying the crypto as the primary treasury asset.

These choices show a growing understanding of Bitcoin’s special contribution in offering liquidity, stability, and protection against traditional financial market risks.

Besides that, as we previously noted , Israel has approved six Bitcoin mutual funds, therefore allowing institutional and ordinary investors to have controlled access to Bitcoin markets.

Under the direction of top financial companies like Migdal and Phoenix Investment, these funds monitor indexes such as BlackRock’s iShares and the SP Bitcoin Index.

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