- MicroStrategy’s Bitcoin success leads other companies to invest, including KULR Technology Group
- KULR doubled its Bitcoin holdings with recent purchases totaling $50 million
- CEO Michael Mo announced a $21 million Bitcoin purchase, pushing KULR up the rankings of largest Bitcoin holdings
The recent success that Microstrategy has had with its recurring Bitcoin acquisitions is apparently leading other publicly traded companies to also invest in the cryptocurrency.
Just recently, one of the leading companies in the technological thermal management industry has doubled its Bitcoin holdings, acquiring nearly $50 million in BTC in less than 30 days. Just today, the KULR Technology Group CEO Michael Mo declared on Twitter that the company made a $21 million purchase in Bitcoin.
The purchase of 217.18 BTC was made at an average price of $96,556 per coin, and it follows the company’s December 4th announcement that KURL plans to allocate up to 90% of its surplus income into Bitcoin.
On December 26th, KURL launched its Bitcoin treasury initiative with another $21 million purchase. Only a couple of weeks later, the tech giant effectively doubled its BTC holdings. In the press release, the firm assures investors that these recent acquisitions are only the beginning and that they plan to promote ongoing Bitcoin purchases moving forward.
KURL CEO and Michael Saylor Interact on X
Microstrategy’s CEO Michael Saylor took the time to congratulate Michael Mo due to its recent push towards Bitcoin holdings. The two CEOs shared a moment online, with Mo directly thanking Saylor for “guiding all of us to the future of money”.
The most recent $21 million BTC purchase drove KULR six spots up in the rankings of largest bitcoin holdings by publicly traded companies. Now with an estimated $42.6 million Bitcoin reserve, the carbon fiber cooling firm is now ranks at 26th of largest BTC reserves.
Given its ambitious plans to continue acquiring BTC, however, KURL is expected to continue climbing in the ranks.
The information provided in this article is for informational and educational purposes only and does not constitute financial, investment, or trading advice. Any actions you take based on the information provided are solely at your own risk. We are not responsible for any financial losses, damages, or consequences resulting from your use of this content. Always conduct your own research and consult a qualified financial advisor before making any investment decisions. Read more
