Hong Kong-based Reitar Logtech Holdings Ltd. announced in an official filing with the U.S. Securities and Exchange Commission (SEC) that it plans to purchase up to $1.5 billion worth of Bitcoin (BTC) in a bid to bolster its treasury reserves and support its global expansion strategy.
With this move, the company, which operates in the fields of real estate and logistics technology, aims to both increase its financial stability and use digital assets as a protection tool against fluctuations in traditional financial markets.
Registered with the SEC under number 001-42210, Reitar Logtech is acting as part of a larger strategy to expand its operational capacity and global presence in the logistics technology space through Bitcoin investment.
The SEC filing in question was signed by the company's Chairman and CEO, Kin Chung Chan.
Recently, another Chinese company, Webus, announced that it plans to create an XRP treasury worth up to $300 million. Recently, companies’ interest in cryptocurrencies has been increasing day by day.
*This is not investment advice.
