Chinese CEO bets $1.3 billion on Bitcoin with $6.83 million company
Key Points
- Addentax Group Corp. plans to buy $1.3 billion worth of Bitc...
A Chinese company with a market cap smaller than a decent suburban house just announced plans to buy $1.3 billion worth of Bitcoin. Yes, you read that right - Addentax Group Corp., valued at a modest $6.83 million, wants to acquire 12,000 BTC, up from their original "humble" target of 8,000 coins.
This is like someone earning $50,000 a year deciding to buy a $10 million mansion. The math is creative, to put it mildly.
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