according to material from the website - By BH NEWS
Interest in cryptocurrency in the Asian market shows impressive growth: bitcoin (BTC) has stabilized at $112,000 and is approaching a significant mark of $112,500. Optimism related to both BTC and altcoins is on the rise again. Recently, an important announcement was made regarding a groundbreaking step by a Hong Kong company that decided to conduct transactions in bitcoins instead of traditional currency.
What is China's relationship with bitcoin?
CIMG INC, owner of well-known brands such as Kangduoyuan and Maca-Noni, has officially announced its decision to sell company shares for bitcoins. This innovative deal, involving nine investors outside the USA, allows for the purchase of shares worth $55 million for 500 BTC.
The price of each share is $0.25, but the total purchase amount will be paid for 500 BTC at a rate of $110,000 per share. The question of whether the decision to create a bitcoin treasury is more intriguing, or the choice of this payment method instead of dollars or yuan, remains a subject of speculation.
The trend of holding reserves in bitcoins is led by the American company Strategy, which has 632,457 BTC. Most leading companies managing cryptocurrency reserves are American, while Japanese Metaplanet stands out significantly with reserves of 18,991 BTC. Chinese companies like Next Technology and Cano also make the list with assets ranging from 4,000 to 6,000 BTC.
"The Board of Directors believes that investing in bitcoin offers a unique opportunity to access crypto-assets and new technologies that go beyond traditional business models and investment models amidst macroeconomic uncertainty. This strategic initiative positions CIMG at the forefront of blockchain technology and innovation in the cryptocurrency space." – Official statement from CIMG
In total, organizations such as ETFs, DeFi contracts, government assets, and reserves of public companies currently hold more than 3.68 million BTC. Given the limited supply of bitcoins at 21 million, the current situation indicates an inevitable shortage.
This move by the Hong Kong company to switch to bitcoin payments underscores a serious shift in global financial strategies. It reflects the growing trust in cryptocurrency as an alternative to traditional fiat exchanges, marking a turning point in the business world's approach to asset management.
