Altcoin
HK Asia Holdings Buys One Bitcoin and Its Stocks Surge by Over 90%. Will BTC Bull Explode?
HK Asia Holdings announced the purchase of one Bitcoin on February 13, calling this investment “symbolic in scale.” Following the public announcement, the company’s stocks surged by 93% between February 13 and 17.
This increase catapulted the stock to 5.50 HKD (Hong Kong Dollars) which is the equivalent of $0.71. While the price has fluctuated since, it still maintains around 4.50 HKD at the time of writing this article.
HK Asia Holding has joined a growing trend of public and governmental Bitcoin investors that have put their trust in the crypto market. This is potentially bullish for projects like BTC Bull which aims to capitalize on Bitcoin’s bull run.
Countries and Firms Adopt Bitcoin at a Large Scale
El Salvador was the first country to adopt Bitcoin as a legal tender on 21st of June, 2024, followed by the Central African Republic in 2022 (CAR eventually overturned the decision in 2023).
Numerous countries have also included BTC among their treasury assets.
As of January, 2025, governments around the globe hold up to 2.5% of Bitcoin’s total supply (471,000 BTC). The exact number of countries with Bitcoin investments is difficult to approximate, but some notable examples include:
- The US: 200K BTC worth $21.28B, making the US the largest and most influential government in the crypto space.
- China: 194K BTC worth $19.92B, acquired from mining and seizing the assets of PlusToken following the dismantle of its Ponzi Scheme.
- UK: 61K BTC worth $6.26B coming through seizures from fraud and money laundering operations.
- Ukraine: 46k BTC worth $4.85B from public donations during its ongoing war.
- Finland: 1.9K BTK worth $207M with many of the assets coming from narcotics operations.
A growing number of public institutions and firms have also added Bitcoin to their portfolio over the years.
The American KULR Technology Group, INC. launched a Bitcoin treasury in December, 2024, with a purchase of 217.18 BTC ($21M). The company doubled down on January 6, 2025, increasing its BTC reserves to $42M.
Rumble is another high-profile player that announced its first Bitcoin purchase just before Trump’s official inauguration on January 20.
However, not all Bitcoin investments have led to stock increases for investors. Lead Benefit, a subsidiary of Hong-Kong-based Ming Shing Holdings, has announced a 500 BTC purchase ($47M) in January, 2025. Despite this, the company’s stocks have declined by almost 40% since.
Strategy (former MicroStrategy) also saw immense success in this sphere, after it formed a reserve of 478K BTC, purchased at an average price of $65K, which took the company’s market cap to $85B. Other companies have tried to replicate this success, but lacked the proficiency required to work with BTC-based derivatives.
US States Push Bills to Diversify State Treasury with Bitcoin and Gold
The 2025 Inflation Protection Act would allow the addition of crypto and precious metals to the state treasury. Utah has also taken important steps in this direction through its bill HB230, with Dennis Porter announcing that the bill has moved onto the Utah Senate.
Arizona’s Strategic Bitcoin Reserve Act also went into the Senate for approval, mirrored by Kentucky, whose bill aims to move 10% of state funds into cryptos.
Numerous other US states consider diversifying their digital asset pool, including Ohio, New Hampshire, Pennsylvania, Texas, and Massachusetts.
This growing trend shows that public and governmental institutions now understand Bitcoin’s value and try to capitalize on it. Some upcoming crypto projects have adopted a similar strategy.
BTC Bull Token Supports Bitcoin’s Road to a $5.2T Market Valuation
BTC Bull Token ($BTCBULL) is an early crypto project whose foundation rests on Bitcoin’s bull trend. The platform offers new investment opportunities by rewarding holders with Bitcoin airdrops, making this one of the best altcoins available. This means that the more successful BTC becomes, the likelier it is that BTC Bull will follow suit.
Holders will receive BTC airdrops when Bitcoin’s price reaches its $150K and $200K milestones, followed by a massive $BTCBULL airdrop at the $250K mark. This is only an option for hodlers using Best Wallet.
$BTCBULL currently has one of the best presales after accumulating over $2.1M over the course of several days.
BTC Bull Token Enjoys Massive Community Approval
HK Asia Holding’s BTC investment is just the latest entry in a long line of companies adopting and diversifying their crypto portfolios. Japan’s Metaplanet also currently holds 2K BTC, valued at $194M, which caused the company’s stock to climb over 3.900% during 2024.
The new crypto project is currently seeing considerable community approval, which is evident from how well the presale is going. The total staking pool has amassed over 540M tokens with an APY of 194%.
Part of the project’s appeal also comes from its long-term token burn system. For every 25K that Bitcoin adds to its price, BTC Bull burns a percentage of its total supply. This creates upwards price pressure, linking $BTCBULL’s price evaluation to that of Bitcoin.
This does not constitute financial advice. Always DYOR (Do Your Own Research) before investing to minimize risks, and remember to never invest more than you can afford to lose.
The Sui token is currently making significant rebound, outperforming top cryptocurrencies including Bitcoin, Ethereum, and XRP. While these assets are exhibiting modest gains in line with the broader market trend, the Sui price is making impressive strides, surging over 7% in a single day. This significant uptick has sparked optimism, with market analysts and experts remaining bullish on the altcoin’s potential to reach new all-time highs.
Sui Price Breaks Past Crucial Resistance, Eyes $8
Notably, Sui’s current bullish trend significantly influences traders and analysts. While traders demonstrate this optimistic view via increasing market activity, analysts express their positive predictions. For instance, market expert CryptoBullet forecasted the Sui price’s surge to a new all time-high of $8.9 in an X post.
In a one-day chart, CryptoBullet highlighted SUI’s prevailing consolidation below 0.618 Fibonacci level. Significantly, SUI has touched twice the same price level within months. Driven by past trends, CryptoBullet remains confident that the Sui price could hit new ATH breaking past this consolidation.
Increasing Daily Active Addresses: How It Impacts Token Price?
According to investor Momin, SUI looks primed for higher highs triggered by increasing daily active addresses. Reportedly, the daily active wallets hit a record high of 1.2 million, paving the way for a massive breakout in the Sui price. Acknowledging the platform’s growth, the trader wrote, “Sui Network is undeniably one of the fastest-growing chains fundamentally!”
Another trader Giannis Andreou underscored the substantial surge in Sui’s daily active wallets. Currently marked at 1,253,935, the daily active addresses increased by a staggering 135.89% over the last seven days.
Meanwhile, Quinten Francois, a prominent crypto voice on X, wrote, “SUI active addresses are exploding.” The substantial surge in Sui’s price, coupled with a growing user base, has garnered significant attention, especially considering the token’s recent 36% downturn.
Sui Price Regains Positive Momentum: Will It Sustain?
At press time, Sui is trading at $3.55, marking a significant increase of 7.9% over the last seven days. However, over the last week and month, the token has seen massive declines of 4.3% and 24.3%, respectively.
Celebrating SUI’s current positive track, traders are actively engaging in market activity. The token’s 24-hour trading has seen a notable uptick of 15.44%, reaching $1.03 billion. Furthermore, SUI has achieved a milestone of over 8.5 billion total transactions, marking a notable 10.37% increase over the past 30 days. With a market cap of $10.67 billion, Sui has secured 12th spot on CoinMarketCap.
Although analysts see a massive surge ahead, it needs to be seen if SUI will sustain the current momentum and gain new highs.
Nynu V Jamal
Nynu V Jamal is a passionate crypto journalist with three years of experience in blockchain, web3, and fintech spheres. She has established herself as a knowledgeable and engaging voice in the cryptocurrency and blockchain space. Her experience as an Assistant Professor in English Language and Literature has further added to her quest for crafting informative, well-researched, and accessible content.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
The latest Dogecoin whale data rattled the crypto market on Friday, flagging massive accumulations amid the meme coin’s recent price dip. Renowned market analyst Ali Martinez revealed that whales bought a whopping 110 million DOGE tokens in the last 48 hours. As a response, market participants eagerly await a bullish price breakout ahead, with top analysts further projecting optimism over future price movements due to strong market technicals.
Dogecoin Whales Scoop Up Heavily Near $0.25 Price Level
In an X post shared by analyst Ali Martinez on February 21, it can be seen that Dogecoin whales bought 110 million tokens in the past two days. These accumulations occurred as the meme coin hovered around the $0.25 price level.
In turn, this mark remains extensively gauged by market participants as it could carve out a vital support level ahead. Another report by CoinGape previously revealed that DOGE whales did not sell massive amounts when the coin moved around $0.25. The upshot remains that investors eye considerable gains for the dog-themed meme coin ahead as whale data reflects strong market support.
Why Are Whales Accumulating?
Meanwhile, the current hot buzz for the dog-themed meme coin remains rising odds of an ETF approval. CoinGape reported last week that the U.S. SEC acknowledged Grayscale’s 19-b filing for Dogecoin ETF. This news appears to have substantially uplifted whale sentiment for the asset, given that an approval ahead could provide significant money influx to the token and fuel a price upswing.
However, Dogecoin price tanked nearly 6% over the week, which appears to have ushered in a ‘buy-the-dip’ sentiment among whales amid the ETF advancements.
Is DOGE Price Breakout On The Horizon? Top Analysts Bullish
DOGE price has mainly shown signs of consolidation in recent days, trading up nearly 1% intraday to $0.2564. The meme coin hit a bottom and peak of $0.2505 and $0.2576 in the past 24 hours. Notably, it’s worth mentioning that the coin’s broader time frame volatility is primarily attributable to the crypto market’s turbulent trend.
However, market analysts have projected a bullish outlook ahead, sparking market optimism in tandem with rising Dogecoin whale buying. Analyst ‘Trader Tardigrade’ recently took to X, revealing that the coin’s price chart shows a ‘symmetrical triangle’ pattern. This metric indicates that the token is consolidating whilst a breakout awaits.
Given the massive whale buying, the chances of the analyst’s projection getting true gained substantial weight. Also, another renowned trader, ‘Altcoin Scholar,’ revealed on X that the $0.22 price level remains a strong support zone for the meme coin. A sustained break above this level solidifies the chances of further gains.
Coingape Staff
CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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