Addentax Takes $800 Million Bet On Bitcoin And Crypto
Addentax Group Corp. (NASDAQ:ATXG), a China-based diversified business group, stock skyrocketed on Thursday after it announced plans to acquire up to $800 million in crypto via a share-based deal. The stock gave up its gains later.
The company announced plans to acquire up to 8,000 Bitcoins and other major cryptocurrencies, worth around $800 million, through a potential share-based transaction, signaling a major strategic pivot into the digital asset space.
The company is negotiating with several influential cryptocurrency holders to purchase up to 8,000 Bitcoins and assets such as the Official Trump coin. Based on current market prices, the estimated value of the proposed acquisition stands at approximately $800 million. While…
