Addentax Group Corp. (Nasdaq: ATXG) has revealed that it is in ongoing discussions with a group of major cryptocurrency holders to acquire up to 8,000 Bitcoins, along with other mainstream digital assets — potentially valued at $800 million at current market prices.
The deal, if completed, would be executed through the issuance of common stock.
Although no definitive agreement has been reached, Addentax reports that it has been engaging with influential crypto holders known for their deep understanding and networks within the digital asset space. The prospective sellers are said to collectively control the full 8,000 BTC being targeted, as well as other coins including Official Trump.
This bold move aligns with Addentax’s strategy to diversify its balance sheet by holding highly liquid and widely recognized digital assets, while also attracting strategic shareholders with proven experience in the crypto sector. The company sees this step as a foundational action to build its footprint in blockchain and digital finance.
CEO Hong Zhida emphasized the long-term nature of the plan, stating:
“This initiative supports the Company’s broader blockchain strategy by facilitating potential acquisitions of digital assets such as BTC 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.”
If completed, this acquisition would mark a significant shift for ATXG, bringing both exposure to crypto markets and potentially influential backers into the company’s shareholder base. The move also reflects a growing trend among public companies to treat Bitcoin as a treasury reserve asset amid increasing institutional adoption.
Kosta Gushterov
Reporter at Coindoo
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Source: https://coindoo.com/addentax-group-eyes-800m-bitcoin-acquisition-in-strategic-crypto-shift/