Addentax Group Corp., a Nasdaq-listed company, announced on July 2 that it intends to acquire up to 12,000 Bitcoins, a substantial increase from its initial plan of 8,000 BTC. The purchase, worth approximately $1.3 billion, will be settled through newly issued shares of Addentax, rather than cash.
According to a non-binding term sheet signed with an undisclosed major Bitcoin holder, the company plans to use these Bitcoins as a strategic treasury reserve asset. The move signals growing confidence among institutional players toward Bitcoin’s long-term value and liquidity.
Addentax’s CEO, Hong Zhida, explained the rationale behind this bold step:
“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.”
The increase from the initial 8,000 BTC plan suggests Addentax is making a deeper strategic pivot toward digital assets, potentially transforming its financial profile and positioning in the blockchain ecosystem.
Key industry analysts and market commentators have yet to weigh in on the deal, and the regulatory reception remains uncertain. Nevertheless, this proposed acquisition represents one of the largest corporate stock-based Bitcoin transactions to date, and market participants will be watching closely to see its impact on both Addentax’s valuation and the broader crypto industry.
July 2025, Cryponiteuae