Bitcoin

Strong

<p>Following the legacy of Microstrategy of holding Bitcoin, KULR Technology, a company specializing in advanced energy-management systems, has made another big bet on Bitcoin. Interestingly the company has spent a whopping amount of $8 million to buy more of the cryptocurrency, bringing its <a href="https://www.kulrtechnology.com/kulr-expands-bitcoin-holdings-to-510-btc-reports-127-btc-yield/">total holdings to 510 BTC</a>. Since announcing its Bitcoin strategy in December, KULR has invested $50 million in the digital asset.&nbsp;</p>   
<p>With Bitcoin hitting an ATH of $109K with Trump’s inauguration, the corporate Bitcoin holding war is getting intense. Now with every dip there will be more buying opportunities as the market is getting prepared for a mega rally.&nbsp;</p>   
<h2 class="wp-block-heading" id="h-why-kulr-is-betting-big-on-bitcoin"><strong>Why KULR Is Betting Big on Bitcoin</strong></h2>   
<p>Notably, the company’s decision to invest in Bitcoin is part of a broader plan to use its extra cash more effectively. KULR <a href="https://www.kulrtechnology.com/kulr-launches-bitcoin-treasury-with-purchase-of-217-18-bitcoin-for-21-million/">announced </a>this strategy last December, citing the growing trend of public companies holding Bitcoin as a long-term investment. The purchase price for this latest batch of Bitcoin averaged $101,695 per token, adding nearly 79 BTC to its portfolio.</p>   
<p>With Trump’s win, Bitcoin is getting all the attention as the prices are expected to go insane this year. Also, it is a safe alternative way to store value, especially as traditional financial systems face challenges like inflation. KULR is joining a list of companies, including Tesla and MicroStrategy, that have added Bitcoin to their balance sheets.</p>   
<h2 class="wp-block-heading" id="h-microstrategy-s-ongoing-bitcoin-strategy"><strong>MicroStrategy’s Ongoing Bitcoin Strategy</strong></h2>   
<p>While KULR is carving its path, MicroStrategy continues to dominate the Bitcoin acquisition space. Stepping its game higher, MicroStrategy acquired 11,000 BTC for $1.1 billion between January 13 and 20. This purchase, at an average price of $101,191 per Bitcoin, brings the company’s total holdings to a staggering 461,000 BTC, valued at $48 billion at current market prices. The Tysons, Virginia-based firm funded this acquisition by selling over 3 million shares, generating $1.1 billion in net proceeds. With $5.4 billion worth of shares still available for sale, MicroStrategy continues to pursue its ambitious “21/21” plan to raise $42 billion and acquire 1 million BTC.&nbsp;</p>   
<p>Moreover, the company’s co-founder, Michael Saylor, has been a vocal advocate for Bitcoin’s role as a corporate treasury asset. Shareholders are expected to approve a proposal to increase authorized shares, enabling further acquisitions.</p>   
<h2 class="wp-block-heading" id="h-strong-returns-and-stock-performance"><strong>Strong Returns and Stock Performance</strong></h2>   
<p>However, KULR’s Bitcoin strategy seems to be paying off. The company reported a 127% year-to-date yield on its Bitcoin holdings. This means their investment has grown significantly compared to their total shares.</p>   
<p>Since adopting this approach, KULR’s stock price has surged by 90%, far outpacing Bitcoin’s 7% gain in the same period. Investors appear to be responding positively to the company’s bold move. KULR’s shares closed at $2.28 on Friday and rose another 2.2% in pre-market trading on Tuesday.</p>   
<p>KULR, a small firm is giving a tough fight to MicroStrategy is quite commendable as KULR’s low scale strategy is impressive and gives a calculated risk. While many believe MicroStrategy's Bitcoin holding will doom the crypto space with fear of liquidity issues in future.</p>

KULR Buys $8M More Bitcoin, Now Holds 510 BTC

Table of Contents

CoinPedia News

Other articles published on Jan 21, 2025

Vivek Ramaswamy relinquishes his role as co-lead of DOGE

Here Are the 6 Best New Meme Coins to Join This Month [Investors Are Scrambling to Buy Into This ...

Elon Musk Comments Boost Ross Ulbricht Pardon Odds To 95% On Polymarket

Bonk (BONK) Gains Momentum Following ETF Filing: Could This Retest Spark a Rally?

The Real Winners Behind The TRUMP Token Launch

Why Analysts Are Betting Big on This Coin’s 12X Growth Potential

Join our free newsletter for daily crypto updates!