South Korea-based financial technology company Bitmax announced that it has purchased a total of 49.06 more Bitcoins.
Bitmax Buys Another 49.06 Bitcoins, Becoming South Korea’s Largest Institutional BTC Holder
With this latest purchase, the company's total Bitcoin holdings reached 300.08 BTC. With this amount, Bitmax became the institution with the most Bitcoin among companies traded on the South Korean stock exchange.
The company announced that it has completed a primary funding round of 50 billion Korean won (about $36 million) and raised a second round of 50 billion won. The company stated that it will continue its strategy of accumulating Bitcoin with these resources.
This move by Bitmax shows that an increasing number of institutional investors are starting to embrace Bitcoin as a long-term strategic asset.
Company officials stated that they closely follow global developments in digital asset markets and aim to make crypto assets an important part of the company's reserves.
Bitmax’s aggressive BTC buying strategy is being watched closely not only by companies in South Korea but also by other companies in the Asian region, as the move is seen as an indication that institutional Bitcoin adoption is accelerating regionally.
*This is not investment advice.
