18h05 ▪
3
min read ▪ by
The Chinese group Addentax announces a major operation in the crypto world. The textile and logistics company indeed plans to acquire up to 8,000 bitcoins as well as TRUMP tokens. This initiative reflects a strong strategic shift towards digital assets.
In Brief
- Addentax plans to buy 8,000 bitcoins and TRUMP tokens through the issuance of common shares.
- This crypto strategy aims to strengthen its balance sheet and attract influential investors.
Addentax Bets on Bitcoin and Memecoins
Addentax Group Corp. aims to make a cryptocurrency asset acquisition worth about 800 million dollars. More concretely, the company plans to buy:
- 8,000 BTC;
- an unspecified amount of TRUMP tokens.
According to the press release, the company plans to finance this purchase through the issuance of common shares. Indeed, it will address cryptocurrency holders renowned for their expertise and networks in the sector.
Addentax CEO Hong Zhida is actually convinced of one thing: certain established digital assets can serve as a stable component of the company’s long-term holdings. Why? Because of their liquidity and growing institutional interest.
According to him, this project also aims to integrate crypto influencers as shareholders. The goal is to strengthen the company’s position in a rapidly expanding market.
Of course, this announcement sparks some skepticism in the stock market. Proof of this: the company’s share price recorded a drop of more than 8% on the same day. Despite this, this pivot toward blockchain fits within a broader trend. Traditional companies are now seeking to secure their digital wallets via strategic crypto investments.
Addentax’s Entry into the Crypto Market: Impacts and Perspectives
This operation would mark an important milestone in the convergence between traditional sectors and blockchain technology. Used to textiles and logistics, Addentax is now indeed positioning itself on the most recognized liquid digital assets. Enough to strengthen its crypto balance sheet against economic fluctuations!
However, the choice to include controversial tokens like TRUMP raises political and strategic questions, in a tense geopolitical context between China and the United States.
This move by Addentax highlights the growing role of cryptocurrencies as a lever for transformation for traditional companies. But that’s not all. It also confirms the strategic importance of crypto in the global digital economy. Ultimately, this repositioning could even inspire other companies.
Maximize your Cointribune experience with our “Read to Earn” program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
My name is Ariela, and I am 31 years old. I have been working in the field of web writing for 7 years now. I only discovered trading and cryptocurrency a few years ago, but it is a universe that greatly interests me. The topics covered on the platform allow me to learn more. A singer in my spare time, I also cultivate a great passion for music and reading (and animals!)
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.
