Bitcoin Purchase from Hong Kong Corporate Company 2 Months Later: Deposited 27 Million Dollars! - Coin Bulletin

A subsidiary of Hong Kong-based Ming Shing Group, expanded its crypto portfolio by purchasing a total of approximately 27 million dollars worth of 333 Bitcoin (BTC).

A subsidiary of Ming Shing Group, which operates in Hong Kong and primarily provides services in the construction sector, has added another cryptocurrency investment. The company recently made an investment of approximately $27 million by purchasing a total of 333 Bitcoins at an average price of $81,555 per unit.

This move by the company is not the first. Ming Shing Group had previously invested in Bitcoin in January, purchasing a total of 500 Bitcoin at an average price of 94.375 dollars. The total value of this investment was approximately 47 million dollars.

The continuation of Bitcoin investments by a subsidiary of Ming Shing Group indicates that cryptocurrencies have become an increasingly important asset for traditional companies. Furthermore, the recent purchase made by the company at a lower average price is interpreted as a sign of evaluating market conditions and expecting a rise in Bitcoin price in the long term.

The recent decline in the Bitcoin price to $80,000 levels is creating new opportunities for many investors, while institutional companies buying at these levels are increasing market confidence.