According to TechFlow, on February 13, Gem Resources, a company listed on the London Stock Exchange, disclosed that it had purchased 9 Bitcoins as reserve assets through its wholly-owned subsidiary, Gem Resources Hong Kong Limited, at a total cost of approximately US$633,200, with an average price of approximately US$70,355.56 per Bitcoin (excluding transaction fees).
The transaction was completed through HashKey Exchange, a Hong Kong-regulated digital asset trading platform, and the funds were sourced from the company's existing cash resources. Including transaction fees of approximately US$1,484.60, the total expenditure amounted to US$634,684.60.
Louis Ching, the company’s executive chairman, said the transaction took advantage of the recent pullback in Bitcoin prices to establish a “moderate, controlled position.”
