Xinhua Technology Invests $5 Million in Bitcoin

Hong Kong-based company Xinhua Technology has initiated a multi-million dollar investment plan for Bitcoin, acquiring approximately 24.29 Bitcoins worth nearly $2 million at an average price of $82,338 per Bitcoin. The initial purchase represents about half of the planned allocation under the program. This move does not require notification as the proportion involved is below 5% of the company’s total market capitalization, according to their announcement. Xinhua Technology will provide further disclosures in accordance with regulatory requirements.