Chinese Firm Plans $800M $BTC and $TRUMP Purchase


Chinese manufacturer Addentax Group Corp announced potential plans to acquire approximately $800 million worth of $BTC and the $TRUMP meme coin despite having a mere $4.4 million market cap.


The Nasdaq OTC-traded company claims to be in discussions with cryptocurrency holders who collectively own "approximately 8,000 BTC."


Addentax would fund the #crypto acquisition by issuing common stock as part of a "long-term investment strategy."


CEO Hong Zhida positioned this as supporting the company's "broader blockchain strategy."


Investor reaction appeared tepid, with shares down approximately 7% following the announcement that carefully noted "no definitive agreement has been reached."

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May 15, 2025 at 11:05 PM
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