TechFlow, May 16 — According to PRNewswire, Addentax Group Corp. (Nasdaq: ATXG), a publicly traded company on the Nasdaq, announced plans to acquire approximately 8,000 bitcoins and other cryptocurrencies (including TRUMP) by issuing common shares, with an estimated total value of around $800 million. A final agreement has not yet been reached.
Hong Zhida, CEO of Addentax, stated that this move is a key component of the company's blockchain strategy, aiming to strengthen its balance sheet by acquiring highly liquid digital assets such as bitcoin, while also bringing in strategic investors with extensive experience in the cryptocurrency ecosystem.
Addentax believes that certain mature digital assets can serve as stable, long-term holdings due to their liquidity and growing institutional investor interest in recent years.
