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Hong Kong telecommunications company Moon Inc. buys another 7 Bitcoins, bringing its total holdings to 42 coins.
[Coin World] Hong Kong-listed telecommunications company Moon Inc. (1723.HK) made another move in early December, spending approximately $600,000 to acquire 7 Bitcoins. The average transaction price for this deal was around $86,233.
Including this time's increase in holdings, Moon Inc. currently has a total of 42 BTC, with an overall holding cost line at $90,363. From the numbers, their current operation has temporarily incurred some losses - after all, the average entry price is over four thousand dollars higher than the latest buying price.
That being said, it is quite interesting that traditional listed companies are continuously investing in Bitcoin. They either truly see its long-term value, or they are being a bit strategic with their asset allocation.