In a move that can only be described as “bold” or “utterly bewildering” (we’re still deciding), KULR Technology Group has thrown caution to the wind and added a whopping $5 million worth of Bitcoin to its treasure chest, bringing its grand total to 668.3 BTC. Because, you know, what could possibly go wrong with investing in a cryptocurrency that’s only slightly more stable than a Pan-Galactic Gargle Blaster-fueled economy? π
For the record, they paid an average of $88,824 per BTC, including fees, because who’s counting, really? It’s all part of their ingenious “let’s-put-most-of-our-eggs-in-this-one-possibly-volatile-basket” treasury strategy, which we’re sure will end wonderfully. π
This daring maneuver follows their December 2024 declaration to allocate up to 90% of their surplus cash reserves to Bitcoin, because why not? It’s not like they have anything better to do with their money… like, say, developing more energy storage solutions (oh wait, that’s their actual business). π¦
And the cherry on top? A reported 181.1% BTC Yield year to date, which is either a staggering success or a made-up metric to impress the neighbors. We’re leaning towards… well, you decide! π€
Want more juicy deets on this $BTC purchase? π€« Check out today’s Press Release: $KULR
β KULR Technology (@KULRTech) March 25, 2025
CEO Michael Mo, the mastermind behind this operation, believes Bitcoin adoption is crucial to their strategy, reflecting a broader trend among corporations using Bitcoin as a treasury asset. Or, in simpler terms, everyone’s doing it, so why not us? π€·ββοΈ
Meanwhile, in the United States, several states are considering adding Bitcoin to their treasuries and financial plans, because who needs traditional, boring assets when you can have cryptocurrency? π€
KULR, for those who might have forgotten, is a company that actually does something tangible β energy storage and management solutions. Their stock price currently stands at $1.73 per share, according to the all-knowing Google. π
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2025-03-25 17:57