MOON INC(01723) has further purchased approximately 6.12 units of Bitcoin for approximately 5.242 million Hong Kong dollars.

date
22:37 31/10/2025
avatar
GMT Eight
Hengyue Holdings (01723) announced that on October 31, 2025 (after trading hours), the group publicly...
MOON INC (01723) announced that on October 31, 2025 (after trading hours), the group further purchased approximately 6.12 units of Bitcoin in the open market, with a total cost of approximately HK$5.242 million (equivalent to around US$672,000). The cost of the additional Bitcoin purchases was paid in cash and determined based on the buying and selling prices of Bitcoin in the open market. The funds for the additional Bitcoin purchases were derived from the group's available cash reserves. Settlement of the additional Bitcoin purchases was made immediately upon completion of each purchase order. The company's board of directors noted the increasing popularity of cryptocurrency in the business world and the inclusion of cryptocurrency (especially Bitcoin) in investment portfolios. The board believes that cryptocurrency as a whole, including Bitcoin (as one of the first and largest cryptocurrency by market capitalization, being a reliable store of value), still has significant potential for appreciation. Additionally, considering the unclear global economy and unprecedented fiscal stimulus measures being implemented by governments worldwide (including quantitative easing measures), with central banks globally increasing the money supply and putting pressure on the depreciation of fiat currencies, the board believes that the scale of the Bitcoin purchase signifies a significant step for the group in adapting to the evolving global financial landscape, diversifying its investment portfolio, and enhancing its asset value. The group recognizes that the price of cryptocurrency can fluctuate significantly, and therefore, the board has decided to invest in Bitcoin, the cryptocurrency with the largest market value, which will ultimately enhance shareholder value in the long run. The board also believes that this move demonstrates the group's ambition and determination to embrace technological innovation, and prepares the group for venturing into the blockchain industry.