On November 25, Newfire Technology Holdings Limited announced that its board of directors plans to purchase up to US$5 million (approximately HK$39 million) worth of Bitcoin on publicly traded cryptocurrency exchanges in order to diversify its assets.
As of the date of this announcement, the company has completed the purchase of approximately 24.29 Bitcoins, with an average cost of US$82,338 per Bitcoin, for a total investment of approximately US$2 million (approximately HK$15.6 million).
The company stated that it will choose appropriate purchase timing based on market performance and prices. The purchased transactions are below 5% and will not trigger the disclosure requirements of Chapter 14 of the Hong Kong Stock Exchange Listing Rules for the time being, but the company will make further disclosures when necessary.
