Shares in Swedish well being tech firm H100 Group AB rose 37% after it mentioned it bought Bitcoin for the primary time as a part of a brand new technique, whereas China’s Jiuzi Holdings revealed its plan to stack 1,000 Bitcoin over the following yr.
H100 mentioned on Might 22 that it spent 5 million Norwegian krone ($490,830) shopping for 4.39 Bitcoin (BTC) at a median buying value of round $111,785.
The corporate’s shares closed Might 22 buying and selling up 37% to 1.22 Swedish krona ($0.13) on the Nordic Development Market following its disclosure of its Bitcoin buy, Bloomberg knowledge reveals.
The sturdy buying and selling day recovered some losses from the previous two months, throughout which the agency’s shares have fallen by over 46%.
The agency’s CEO, Sander Andersen, mentioned he believes “the values of particular person sovereignty extremely current within the Bitcoin neighborhood aligns effectively with, and can attraction to, the shoppers and communities we’re constructing the H100 platform for.”
H100 sells well being instruments for people who don’t wish to depend on the “reactive well being system,” Andersen mentioned in a separate X publish.
Andersen marked the primary Bitcoin announcement and buy as “Part 1,” hinting at additional buys.
China’s Jiuzi Holdings to stack 1,000 Bitcoin
In the meantime, on Might 22, the Nasdaq-listed Chinese language electrical car retailer Jiuzi Holdings mentioned its board authorised a plan to purchase 1,000 Bitcoin over the following yr via further inventory issuance and money purchases.
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The corporate’s CEO, Tao Li, acknowledged the volatility that comes with investing in Bitcoin however is hopeful the transfer will strengthen the agency’s asset construction, danger resistance and profitability.
Jiuzi (JZXN) rose 7.3% to $3.09 on Might 22, Google Finance knowledge reveals — a relatively minor rise in comparison with different public firms which have just lately introduced Bitcoin buys.
Adopting Bitcoin as a treasury asset has turn out to be an more and more in style pattern of late, with 109 public companies now holding the cryptocurrency on their steadiness sheets, in line with BitcoinTreasuries.NET knowledge.
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