Chinese clothing company shares in volatile trading after announcing the Bitcoin and Crypto investment strategy at $ 800,000,000
The shares of a volatile Chinese investment company have been the company since the company has submitted an investment plan in Bitcoin (BTC) worth $ 800 million earlier this week.
On Thursday, ADEDENTAX Group Corp. Its headquarters. Declare Plan to issue shares of their shared shares to buy 8000 BTC and obtain unlimited amounts of other encryption assets, including the official Memecoin of President Donald Trump.
The shares of the company, listed on the Nasdaq Stock Exchange as ATXG, were priced at $ 0.72 before the announcement, but it quickly jumped to $ 1.68 later that day.
Then the arrow immediately returned and decreased less than its original price and is now trading at $ 0.61. ATXG has decreased nearly 9 % in the past 24 hours and more than 20 % in the past five days.
AdDentax specializes in manufacturing clothing, logistics services, property management and subconscious exemption.
The company notes that it was in the discussions “with a number of large and influential bitcoin and other prevailing cryptocurrencies” to facilitate the upcoming acquisitions.
Hong Chaida, CEO of Addentax, says investments are part of the broader Blockchain strategy.
“We believe that some of the applicable digital assets may serve as a stable component in the company’s long -term possessions, given its liquidity and increased institutional interest in recent years.”
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