Addentax, a China-based textile and apparel company, has announced that it is in talks to purchase approximately 8,000 Bitcoin and various mainstream cryptocurrencies, including Official Trump (TRUMP).
It was stated that the company plans to make these purchases by issuing shares worth $800 million.
According to a press release by the company, Addentax aims to acquire assets from several prominent cryptocurrency holders with deep knowledge and strong connections in crypto assets. The company said that this move is a core part of its crypto asset investment and long-term holding strategy.
While no final agreement has been reached yet, company officials also see the process as an opportunity to bring influential figures in the cryptocurrency world into the company’s shareholders and strengthen the company’s digital asset portfolio.
Addentax CEO Hong Zhida made the following statement on the subject:
“This initiative supports our company’s broader blockchain strategy. The potential acquisition of digital assets like Bitcoin and the involvement of strategic investors experienced in the crypto ecosystem will contribute to our long-term goals. We believe that certain digital assets can be a stable element of the company’s long-term assets, given their liquidity and increasing institutional interest in recent years.”
*This is not investment advice.
