๐๐ต๐ถ๐ป๐ฎ'๐ ๐๐ฑ๐ฑ๐ฒ๐ป๐๐ฎ๐ ๐๐น๐ฎ๐ถ๐บ๐ $๐ด๐ฌ๐ฌ๐ ๐๐ถ๐๐ฐ๐ผ๐ถ๐ป & ๐ง๐ฅ๐จ๐ ๐ฃ ๐๐๐ ๐ฃ๐น๐ฎ๐ป โ ๐๐๐ ๐๐'๐ ๐ก๐ผ๐ ๐ช๐ต๐ฎ๐ ๐๐ ๐ฆ๐ฒ๐ฒ๐บ๐
๐น Small Company, Big Claims
Chinese garment maker Addentax Group Corp. says itโs talking to crypto whales about buying $800 million worth of Bitcoin (BTC) and the TRUMP memecoin.
But thereโs a catch โ Addentax itself is worth only $4 million in market cap.
๐ No Deal Yet, Just Talks
The company said itโs been speaking with influential BTC holders who own about 8,000 BTC.
However, no official agreement has been made.
If a deal happens, Addentax would fund it by issuing new shares.
Meanwhile, investors donโt seem impressed. The companyโs stock dropped 7% to $0.72 after the announcement.
๐งต Why Is a Clothing Company Buying Crypto?
Addentax says this plan is part of a long-term blockchain strategy, aiming to:
Diversify into digital assets
Attract crypto-savvy investors as shareholders
Boost its position in the crypto ecosystem
CEO Hong Zhida believes assets like Bitcoin can be a stable, liquid long-term investment, as big institutions are showing more interest.
๐ Context: Many Firms Are Going Bitcoin
Addentax joins a growing list of companies adding Bitcoin to their balance sheets:
Tether, SoftBank, Bitfinex with the $3.6B Twenty One venture
Semler Scientific, KULR, Metaplanet following MicroStrategyโs model
But unlike these giants, Addentaxโs size makes this announcement seem more like hype than reality โ for now.