KULR Announced it is going to build its own Bitcoin Strategic Reserve.
Bought $21 Million worth of Bitcoin ….
The electric storage solutions provider reported Thursday that it bought 217.18 bitcoins at an average price of $96,556 per bitcoin.
The move comes after the company said earlier this month it was launching a "Bitcoin Treasury" strategy that called for allocating up to 90% of its surplus cash to the digital currency. It said this $21 million purchase marks its first toward that strategy, with plans to buy more bitcoin in the future.
Key Takeaways
KULR Technology Group shares surged to an all-time high Thursday after the energy storage provider made its first investment in bitcoin worth $21 million.
The company bought 217.18 bitcoins, and said it plans to purchase more.
KULR said it will allocate up to 90% of its surplus cash towards buying bitcoin as part of its "Bitcoin Treasury" strategy.
Source: https://finance.yahoo.com/news/kulr-technology-stock-soars-time-212426239.html