Addentax Group Plans $800 Million Acquisition of 8,000 Bitcoins to Strengthen Cryptocurrency Holdings

On May 16th, a report from PR Newswire revealed that Addentax Group Corp (Nasdaq: ATXG), a publicly traded firm in the U.S., is actively engaging with major holders of Bitcoin and other prominent cryptocurrencies. The company is poised to acquire up to 8,000 Bitcoins along with other digital assets, including the TRUMP token, with an estimated acquisition cost of $800 million. This transaction will be facilitated through the issuance of common stock. Although a final agreement has yet to be reached, Addentax Group’s leadership views this acquisition as a strategic initiative aimed at bolstering the company’s long-term investment strategy in cryptocurrency. By securing these liquid assets, the firm seeks to enhance its balance sheet and attract seasoned shareholders knowledgeable in the cryptocurrency landscape.