350% or 5BTC + 150 Spins!
New players only. Exclusive Welcome Bonus of 350% + 150 Free Spins
Addentax Group Corp., a Chinese textile and apparel company, announced plans to acquire as much as 8,000 bitcoin and other digital assets, including the memecoin TRUMP, by issuing new shares of its common stock. The company revealed the move on May 15, positioning it as a long-term strategic investment shift into digital assets.
Good to know
Rather than making the purchase on open markets, Addentax is exploring deals with unnamed entities that already hold large amounts of bitcoin and other crypto. According to the company, these parties bring deep industry knowledge and strong networks—two qualities Addentax believes will help strengthen its crypto strategy.
Addentax hopes the move will do more than just boost its balance sheet. By bringing these crypto holders in as shareholders, the company also aims to build out its network and gain direct access to expertise in the digital asset space.
With this pivot, Addentax follows the path of other public companies like MicroStrategy and Metaplanet that have added bitcoin to their treasuries. The strategy, once considered risky, is increasingly being used as a hedge against inflation and currency volatility.
Addentax CEO Hong Zhida explained the rationale behind the plan:
“This initiative supports the Company’s broader blockchain strategy by facilitating potential acquisitions of digital assets such as Bitcoin and introducing strategic investors with experience in the crypto ecosystem. We believe that certain established digital assets may serve as a stable component of the Company’s long-term holdings, given their liquidity and increasing institutional interest over recent years.”
While the company has not named specific counterparties or given a timeline for the purchases, it framed the potential crypto acquisition as a meaningful step in expanding its blockchain presence and attracting long-term investors who support innovation and digital growth.