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Zhiyun International's subsidiary purchases Bitcoin on the Hong Kong exchange.
Zhiyun International's subsidiary recently purchased over one Bitcoin on a regulated trading platform in Hong Kong, using internal funds at an average price of 118,000 USD. This transaction reflects the growing interest of institutions in Hong Kong's regulated crypto market and demonstrates the potential for expanding the adoption of digital assets in business.
The market reaction is quite subdued, not significantly affecting public discussions or on-chain indicators. Currently, Bitcoin is trading around 109,652.70 USD, with a market capitalization of 2.19 trillion USD, accounting for 57.74% market share and a circulating supply of nearly 19.93 million BTC.
Experts believe that Hong Kong's legal framework facilitates corporate crypto activities, which could further boost transactions from other organizations and strengthen the long-term market structure.