Bitcoin Magazine
HK Asia Holdings Becomes First in China to Adopt Bitcoin Treasury
HK Asia Holdings (HKEX: 1723), quickly to be rebranded as Moon Inc., has actually accomplished a substantial turning point as the first openly traded company in Greater China to implement a Bitcoin treasury strategy. During a current conversation moderated by Allen Helm of Bitcoin For Corporations, John Riggins, the brand-new CEO, elaborated on the company’s tactical pivot, its regulative compliance in Hong Kong, and the increasing momentum for cryptocurrency adoption throughout the Asian continent.
Riggins, an experienced supporter of Bitcoin with comprehensive experience in China and Southeast Asia, articulated that the choice to embrace a Bitcoin treasury was affected by both a strong long-lasting conviction and a beneficial shift in regulative mindsets within Hong Kong. He kept in mind the company took substantial time to participate in assessments with regulators, public market financiers, and regional partners prior to performing this shift.
Previously concentrated on SIM cards and pre-paid innovation items, HK Asia Holdings is now placed to incorporate Bitcoin as both a balance sheet property and a core element of its service design. This strategy consists of the intro of Bitcoin-associated offerings through its retail network, including ATMs and pre-paid Bitcoin items.
The company’s preliminary actions consisted of the acquisition of 8.88 BTC throughout a post-acquisition duration, followed by an extra purchase of 10 BTC once the management shift was finished. This brings its overall Bitcoin holdings to 18.88 BTC, valued at over $1.7 million at the time of the statement. Riggins showed that more build-up is prepared, although it will adhere to Hong Kong’s responsive and transparent regulative structure.
SIMPLY IN: @MoonIncHK has actually obtained 10 BTC, increasing its overall #Bitcoin holdings to 18.88 BTC at a typical expense of ~$91,110 per BTC. pic.twitter.com/PtjZUl4U6K
— Bitcoin For Corporations (@BitcoinForCorps) March 21, 2025
Riggins revealed, “We see it as a way to protect our balance sheet, and we view it as a strategy to diversify our treasury while being mindful of global trends.”
The tactical reasoning for this relocation extends beyond speculative financial investments. Riggins identified Bitcoin as a protect versus macroeconomic unpredictabilities, a way of cultivating long-lasting durability, and a critical link to emerging worldwide monetary facilities. He highlighted a growing severity amongst business boards in the area concerning cryptocurrency adoption, referencing worldwide precedents such as MetaPlanet in Japan and Strategy in the United States.
As business interest in Bitcoin continues to broaden in Asia, Riggins explained that nations such as South Korea, Thailand, Malaysia, and Indonesia display considerable capacity to do the same. He mentioned that much of the development is taking place quietly, especially in China, where institutional stakeholders and government-affiliated financiers are carefully observing shifts in U.S. policies and business adoption trajectories.
“I am receiving an increasing number of inquiries from government officials and institutional investors who are closely monitoring developments in this space,” Riggins specified.
Although no official statements have actually emerged from Chinese state entities worrying Bitcoin adoption, Riggins presumes that Bitcoin is most likely being held indirectly through government-associated companies, consisting of state-connected financial investment arms. He recommends that these holdings might represent a more substantial effect than what is openly acknowledged. With the United States advancing towards a tactical Bitcoin reserve, he visualizes that China is carefully evaluating these advancements and might possibly align its strategy if beneficial worldwide patterns continue.
Looking ahead, Moon Inc. means to even more broaden its Bitcoin holdings within the recognized regulative structure in Hong Kong and objectives to function as a design for other Asian business looking for to check out comparable methods. Furthermore, the company will co-host Bitcoin Asia this August in Hong Kong, hence placing itself as a pioneering entity in the area and assisting in wider business adoption of cryptocurrency throughout Asia.
This short article, “HK Asia Holdings Becomes First in China to Adopt Bitcoin Treasury,” first appeared on Bitcoin Magazine and was composed by Nick Ward.
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