BlockBeats news, on May 16, reported by PR Newswire, that the publicly listed company Addentax Group Corp (NASDAQ: ATXG) announced that it has consulted with several significant and influential holders of Bitcoin and other mainstream cryptocurrencies, planning to acquire up to 8,000 Bitcoins and other cryptocurrencies, such as the TRUMP token. The expected cost is $800 million, which will be financed through the issuance of common stock, and a final agreement has not yet been reached.
Addentax Group management stated that this initiative is a core action supporting the company's long-term investment and holding strategy for its crypto assets, enhancing its balance sheet through the acquisition of highly liquid and widely recognized digital assets, while attracting new shareholders with experience and expertise in the cryptocurrency field.