Addentax Group has announced that it is in negotiations to purchase up to 8000 bitcoins (BTC) from several influential crypto investors. The total value of the deal could be around 800 million USD, based on current market prices.
This is reported by Business • Media
The acquisition of digital assets is expected to be carried out through the issuance of common shares. The company’s press release states that a final agreement has not yet been reached. The cryptocurrency owners being negotiated with hold approximately 8000 BTC and “possess deep knowledge and connections in the world of crypto assets.”
Addentax Group’s Development Strategy
Addentax views this initiative as a key part of its strategy to build a long-term crypto portfolio and attract new strategic shareholders. As noted by the company, “ATXG aims to strengthen its balance sheet by acquiring liquid digital assets and attracting new shareholders with proven experience and expertise in the cryptocurrency sector.”
Bitcoin Market Forecasts
Previously, Blockstream CEO Adam Back predicted that the price of bitcoin in the current four-year market cycle could reach between 500,000 and 1 million USD.
“ATXG aims to strengthen its balance sheet by acquiring liquid digital assets and attracting new shareholders with proven experience and expertise in the cryptocurrency sector.”
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