KULR Technology Group Joins Bitcoin Investment Trend with $21 Million Purchase

KULR Technology Group, a space technology company listed on the New York Stock Exchange (NYSE), has made a significant foray into cryptocurrency by acquiring Bitcoin worth $21 million.

The company announced on December 26 that it had purchased 217.18 Bitcoins at an average price of $96,556.53 per coin. This acquisition marks the initial step in KULR’s long-term financial strategy, which includes plans to allocate up to 90% of its surplus cash for future Bitcoin investments.

KULR revealed that its decision to buy Bitcoin followed positive feedback from shareholders. The company conducted a survey through X (formerly Twitter) before the purchase, receiving strong support for the plan. CEO Michael Mo noted that the feedback was overwhelmingly positive and expressed the company’s belief that Bitcoin represents the currency of the future.

The strategy of incorporating Bitcoin into corporate financial plans mirrors the approach first adopted by MicroStrategy in 2020. MicroStrategy currently holds Bitcoin valued at $45 billion and intends to continue expanding its Bitcoin holdings in the coming year.

With this investment, KULR joins a growing list of companies leveraging Bitcoin as a core component of their financial strategies, reflecting confidence in its long-term value.

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