Hong Kong-based Ming Shing Group Holdings Limited (NASDAQ: MSW), a company specializing in wet trades works, has made its debut in the crypto market with a substantial Bitcoin acquisition. The company’s wholly-owned subsidiary, Lead Benefit (HK) Limited, purchased 500 Bitcoins for approximately $47 million on January 9, 2025. Each Bitcoin was acquired at an average price of $94,375.
Why Ming Shing Chose Bitcoin?
Lead Benefit (HK) Limited, incorporated in Hong Kong on December 23, 2024, is fully owned by Lead Benefit International Limited, a British Virgin Islands entity established earlier in December. Both entities are controlled by Ming Shing. According to the company, this investment leverages idle funds to capitalize on Bitcoin’s potential value growth while maintaining flexibility to support its core wet trades work business if needed.
A company spokesperson highlighted BTC’s liquidity as a key factor in the decision. They highlighted BTC’s ability to serve as both an investment and a financial resource for operational needs. “The Bitcoin market is highly liquid, allowing us to dispose of assets quickly if required to fund our primary business,” the person explained.
Ming Shing’s Director, Wenjin Li, expressed optimism about the strategic move. In a press release, he stated, “We are excited about our Bitcoin investment. We are confident that this step will not only fuel our growth but also deliver significant value to our shareholders.” Li also hinted at future plans, saying the company is “actively exploring options for further expansion.”
This marks Ming Shing’s first venture into crypto, aligning with a growing trend of traditional businesses diversifying into digital assets. By tapping into Bitcoin, the company aims to enhance its asset portfolio and strengthen its financial position.
The decision comes as BTC continues to draw attention from institutional investors, despite its price volatility. The company’s entry into this space underscores the evolving relationship between traditional industries and digital assets, with potential implications for both sectors.
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