On January 6th, COINOTAG News reported a significant transaction involving KULR Technology, a publicly traded entity in the United States. According to detailed on-chain analysis by analyst Yu Jin, the company has recently withdrawn 213.4 BTC, equivalent to approximately $21 million, from its account on Coinbase Prime. This event marks what could be the company’s second major acquisition of Bitcoin. KULR Technology initially unveiled its Bitcoin Treasury Strategy in December 2024, outlining intentions to allocate 90% of its corporate liquidity to crypto investments. Notably, the firm completed its first Bitcoin purchase on December 24th of the previous year, acquiring 217.18 BTC for about $21 million at an average price of $96,556. This aggressive strategy underscores the growing trend of institutional adoption of cryptocurrencies within corporate finance.
Source: https://en.coinotag.com/breakingnews/kulr-technology-executes-major-bitcoin-purchase-withdraws-213-4-btc-from-coinbase-prime/
