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tldr; Hong Kong-based Ming Shing Group has invested $47 million in Bitcoin, acquiring 500 BTC to enhance liquidity and asset value. The construction firm, primarily involved in wet trades like plastering and tile laying, made the purchase through its subsidiary, Lead Benefit, at an average price of $94,375 per BTC. The investment is seen as a short-term strategy to capture potential Bitcoin appreciation and increase assets. This move led to a 10% rise in Ming Shing’s Nasdaq-listed shares. The company views Bitcoin as a liquid asset that can support its business if needed.
*This summary is auto generated by a bot and not meant to replace reading the original article. As always, DYOR.