Business
Addentax Group Corp. Announces $800 Million Plan to Acquire Bitcoin (BTC) and Official Trump (TRUMP)
SHENZHEN, China, May 15, 2025 /PRNewswire/ -- Addentax Group Corp. ("ATXG" or the "Company") (Nasdaq: ATXG) today announced that it has been in discussions
About this update from Addentax Group Corp.
[{"type":"text","content":"SHENZHEN, China, May 15, 2025 /PRNewswire/ -- Addentax Group Corp. (\"ATXG\" or the \"Company\") (Nasdaq: ATXG) today announced that it has been in discussions with a number of substantial and influential Bitcoin and other mainstream Cryptocurrency holders, to acquire up to 8,000 Bitcoins, together with other Cryptocurrencies, such as Official Trump, with an expected current market value of approximately USD 800 million, by issuing shares of common stock. No definitive agreement has been reached. \n\nBased on separate conversations with the Crypto holders, it is believed that they collectively hold approximately 8,000 BTC, bearing profound understanding and networks in the Crypto world. Addentax Group Corp. and its management regard this initiative as the Company's core action to support its crypto asset long-term investment and holding strategy, at the same time, building up the Company's networks through bringing influential crypto holders as its shareholders.\nATXG aims to strengthen its balance sheet by acquiring highly-liquid and widely recognized digital assets, while also bringing in new shareholders with demonstrated experience and expertise in the cryptocurrency sector.\nThis potential plan reflects the management's long-term strategic view on the evolving digital asset landscape. \nMr. Hong Zhida, Chief Executive Officer of the Company, commented: \"This initiative supports the Company's broader blockchain strategy by facilitating potential acquisitions of digital assets such as Bitcoin and introducing strategic investors with experience in the crypto ecosystem. We believe that certain established digital assets may serve as a stable component of the Company's long-term holdings, given their liquidity and increasing institutional interest over recent years.\"\nAbout Addentax Group Corp. \nAddentax Group Corp. is an integrated service provider specializing in garment manufacturing, logistics services, and property management and subleasing. For more information about the Company, please visit the website: https://www.addentax.com/.\nCaution Concerning Forward Looking Statements\nAll statements other than statements of historical fact in this announcement are forward-looking statements in nature within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements involve known and ...