Hong Kong investment firm buys additional Bitcoin, spurring growth in holdings

HK Asia, an investment firm based in Hong Kong, is stepping up its bitcoin purchases. HK Asia Holdings
In an announcement on the 23rd, the company revealed that its board of directors had approved further expansion of its Bitcoin investment, and on the 20th it invested approximately 7.88 BTC in a total of 76
The company said it purchased the bitcoin for $1,705. The purchase was funded internally, giving the company a total of 8.88 BTC. The average price of the bitcoin was 90,700
The shares were purchased at $21 each, for a total of $861,500. HK Asia announced that it had purchased 1 BTC on February 16th, and the investor purchased the shares the next day when the market reopened, for a total of 2
At the close of trading on the 17th, the stock price had risen by nearly 93%. On the 24th, HK Asia's stock price rose by about 5.7% at lunchtime on the Hong Kong Stock Exchange to 6.66 Hong Kong dollars (about 128 yen) per share.
If the current price holds, HK Asia's shares could surpass their all-time high of HK$6.50 hit in June 2019, according to Google Finance.
Already, the stock is up 1,700% this year.