Fidelity ups stake in Hong Kong cryptocurrency company
Add BT as a preferred source[HONG KONG] Fidelity has increased its stake in Hong Kong cryptocurrency company BC Technology Group to 6.29 per cent after investing US$6.71 million, according to an exchange filing published on Tuesday.
BC Group said last week it had entered into an agreement to raise HK$697 million (S$119.3 million) in a top up share placement which included institutional investors whom it did not name.
OSL, a BC Group unit, was the first to receive a licence from Hong Kong's securities regulator to offer digital asset brokerage services last year.
Interest in bitcoin and other smaller cryptocurrencies has been soaring in recent months, amid a price surge driven initially by demand from institutional investors.
Bitcoin's price reached to a record $42,000 last Friday, more than doubling since early December, though the volatile asset dropped by as much as 19% on Monday.
Fidelity did not immediately respond to a request for comment.
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