HK Asia Holdings Stock Surges 90% After Bitcoin Purchase Disclosure

Hong Kong-based investment firm HK Asia Holdings Limited saw its stock skyrocket by nearly 93% on February 17, following the announcement that it had purchased one Bitcoin (BTC) for $96,150 on February 13.

📈 Stock Surge:

• HK Asia’s shares rose to 5.50 HKD ($0.71) on the Hong Kong Stock Exchange, nearing its highest level since June 2019.
• The company cited Bitcoin’s growing commercial adoption as a key reason for the investment.

Bitcoin as a Strategic Asset

HK Asia joins other public firms integrating Bitcoin into their financial strategies:
💰 Ming Shing Holdings (HK) – Bought 500 BTC ($47M) but saw no major stock movement.
📈 Japan’s Metaplanet – Accumulated 2,031.5 BTC ($194.7M), leading to a 3,900% stock increase over the past year.

Bitcoin’s Growing Influence in U.S. State Investments

🏛️ West Virginia – Proposed Inflation Protection Act to allow state treasury investments in crypto & gold.
🏛️ Utah – House passed a bill permitting state investments in Bitcoin & altcoins.
🏛️ Kentucky – Considering allocating 10% of state funds to digital assets.

🔹 State Pension Funds & Treasuries:

• 12 U.S. states have invested in Strategy (formerly MicroStrategy), holding $330M worth of shares.
• California’s State Teachers Retirement Fund owns $83M in Strategy shares & $76M in Coinbase stock.

With government stimulus, rising money supply, and fiat depreciation, Bitcoin continues to gain traction as a store of value, influencing corporate strategies and state investments alike.