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KULR Technology Group recently acquired 217.18 BTC for $21 million, doubling its Bitcoin treasury from the previous year. The company plans to allocate 90% of its surplus cash reserves into Bitcoin as a long-term investment. Other companies, like Hut 8 and Marathon Digital, have also been increasing their BTC reserves. Institutional buying of Bitcoin is seen as a way to hedge against inflation and add value to companies.
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