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KULR Goes All-In on Bitcoin: KULR’s Stock Rises Over 300%
KULR Technology has made a bold move in the crypto market by allocating 90% of its surplus cash reserves into Bitcoin. The company purchased 217.18 BTC at an average price of $96,556 per Bitcoin, signaling a significant commitment to the cryptocurrency. This strategic decision has garnered substantial investor interest, resulting in KULR’s stock skyrocketing over 300%.
KULR’s decision to go all-in on Bitcoin is reminiscent of Rumble, another firm that has also chosen to adopt Bitcoin as a treasury reserve asset. Rumble’s stock saw an impressive 130% increase following this move, further solidifying the potential benefits of allocating assets to cryptocurrency.
The “Bitcoin Treasury” strategy, as it can be termed, raises questions about its long-term impact on KULR’s financial future. However, it is undeniable that the company has taken a significant step in embracing crypto and reaping the rewards of a rapidly expanding market.
This development has sparked a flurry of interest among investors, with many taking notice of KULR’s decisive action.
Source: coinpedia.org
