KULRTech Abandons Bitcoin Treasury Strategy, Accumulated Losses Approximately $22.62 Million
7x24h News
KULRTech Abandons Bitcoin Treasury Strategy, Accumulated Losses Approximately $22.62 Million
According to monitoring by on-chain analyst Yu Jin (@EmberCN), BTC treasury company @KULRTech transferred another 145.8 BTC (approximately $9.45 million) to Coinbase Prime 5 hours ago. After multiple position reductions over nearly 3 months, its originally held 1,021 BTC (approximately $101 million) now remains at only 100 BTC (approximately $6.47 million). The company's average BTC reserve price was $98,923, while the average selling price was only $74,368, resulting in an accumulated loss of approximately $22.62 million. Currently, its official website's Bitcoin treasury page has been taken offline, and its official social media has not mentioned Bitcoin-related content for a long time; it is widely believed that the company has abandoned its Bitcoin treasury strategy.
Navigating Web3 tides with focused insightsTechFlow news, July 24, according to on-chain analyst Ember (@EmberCN), BTC treasury company @KULRTech transferred another 145.8 BTC (approximately $9.45 million) to Coinbase Prime 5 hours ago. After multiple position reductions over nearly 3 months, only 100 BTC (approximately $6.47 million) remain of the 1,021 BTC (approximately $101 million) it originally held.
The company's average BTC reserve price was $98,923, the average price of position reductions was only $74,368, resulting in a cumulative loss of approximately $22.62 million. Currently, its official website's Bitcoin treasury page has been taken offline, its official social media has also not mentioned Bitcoin-related content for a long time, and it is widely believed externally that the company has abandoned its Bitcoin treasury strategy.
