KULR Technology Group announced that its Board of Directors has agreed to include Bitcoin (BTC) as a primary asset in its treasury program. The company committed to allocating up to 90% of its surplus cash to BTC, with over $12 million cash on the balance sheet at the time of the announcement.
KULR's acquisition of Bitcoin will be guided by market dynamics and anticipated cash flow requirements, maintaining adaptability to evolving circumstances. Chairman and CEO Michael Mo stated that the growing global acceptance of Bitcoin is still in its early stages, with companies, financial institutions, and governments recognizing its value.
Management believes Bitcoin provides long-term appreciation and a bulwark against geopolitical, inflationary, and other macroeconomic trends. This strategy is intended to strengthen KULR's financial position as it expands operations and manages financial capital responsibly by adding an independent treasury reserve.
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