London-listed Gem Resources purchased nine bitcoins at an average price of $70,355 each as reserve assets.

According to a disclosure by Gem Resources, a London Stock Exchange-listed company, the company has 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 came from the company's existing cash resources. Including transaction fees of approximately US$1,484.6, the total expenditure reached US$634,684.6. Louis Ching, the company's executive chairman, stated that this transaction took advantage of the "recent pullback in bitcoin prices" to establish a "moderate and controlled position."