KULR Technology Group made headlines by acquiring 217.18 BTC for about 21 million USD. This strategic move marks the company’s initial foray into Bitcoin investments, buying each Bitcoin at an average price of 96,556.53 USD. This acquisition reflects KULR’s confidence in Bitcoin as a long-term asset.

KULR has partnered with Coinbase Prime for secure management of its cryptocurrency, emphasizing custody and self-custodial wallet services. This partnership aligns with KULR’s broader Bitcoin Treasury strategy, aiming to maximize returns on their cash reserves by diversifying into cryptocurrency holdings.

The announcement of KULR’s Bitcoin acquisition led to a 20.8% increase in their stock value before the market opened. This positive market reaction highlights the growing investor confidence in KULR’s forward-thinking approach to integrating cryptocurrency into their asset management strategy.