TechFlow news, on December 26, according to an official announcement, KULR Technology Group, Inc. ($KULR) purchased 217.18 BTC for $21 million at an average price of $96,556 per BTC, marking the beginning of its Bitcoin treasury strategy.
This purchase follows the company's December 4 announcement of its Bitcoin treasury strategy, in which it stated its intention to allocate up to 90% of its excess cash reserves to BTC. The $21 million worth of BTC acquired since the announcement represents the first batch of what the company plans to be ongoing purchases. KULR has selected Coinbase's (Nasdaq: COIN) Prime platform to provide custody, USDC, and self-custody wallet services for its BTC holdings.
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