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Hong Kong Asia Holdings Limited has officially entered the BTC market after completing its first Bitcoin asset allocation, signaling a strategic shift following its acquisition by UTXO Management.
In a filing with the Hong Kong Stock Exchange, the company said it used its internal resources to purchase one unit of Bitcoin from the open market for approximately $96,150 (HK$750,000). The move marks the start of the company’s Bitcoin-focused investment strategy.
UTXO Management, a subsidiary of BTC Inc., the parent company of Bitcoin Magazine, previously led a successful Bitcoin strategy at Japanese-listed firm Metaplanet, which became one of the best-performing stocks globally in 2024. The acquisition of Hong Kong Asia Holdings and its subsequent foray into Bitcoin points to a similar approach to capitalizing on Bitcoin’s growing institutional adoption.
As part of this transformation, the company has announced its intention to expand further into the Asian market by appointing four new board members, including BTC Inc. founder David Bailey and co-founder John Riggins. Additionally, Hong Kong Asia Holdings announced plans to rebrand as “Moon Inc.” in line with its new strategic direction.
*This is not investment advice.
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