Stock Track | KULR Technology Stock Soars 14.33% After Launching Bitcoin Treasury Strategy

Stock Track

2024-12-26

KULR Technology Group, Inc. (KULR) stock surged 14.33% during Thursday's trading session, following the company's announcement of launching a Bitcoin Treasury strategy. The energy management platform leader completed the purchase of 217.18 Bitcoin (BTC) for approximately $21 million, at an average price of $96,556.53 per BTC.

This Bitcoin acquisition marks the first step in KULR's plan to allocate up to 90% of its surplus cash to Bitcoin, as revealed on December 4th. The company has selected Coinbase's Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings.

Investors have welcomed KULR's move to invest in Bitcoin as a diversification strategy and a potential hedge against inflation and currency debasement. The company's embrace of cryptocurrency as a store of value appears to have boosted market confidence, driving the stock's substantial gain.

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(KULR) stock surged 14.33% during Thursday's trading session, following the company's announcement of launching a Bitcoin Treasury strategy. The energy management platform leader completed the purchase of 217.18 Bitcoin (BTC) for approximately $21 million, at an average price of $96,556.53 per BTC.</p>\n\n<p>This Bitcoin acquisition marks the first step in KULR's plan to allocate up to 90% of its surplus cash to Bitcoin, as revealed on December 4th. The company has selected Coinbase's Prime platform to provide custody, USDC, and self-custodial wallet services for its Bitcoin holdings.</p>\n\n<p>Investors have welcomed KULR's move to invest in Bitcoin as a diversification strategy and a potential hedge against inflation and currency debasement. 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