Chinese textile and logistics firm Addentax Group has announced that it is in talks to purchase approximately $800 million worth of Bitcoin (BTC) and several popular meme coins.
Among the digital assets under consideration is Official Trump (TRUMP), a meme coin reportedly supported by former U.S. President Donald Trump. CEO Hong Zhida described the move as part of the company’s long-term blockchain strategy, aiming to diversify its portfolio through digital assets.
Despite Addentax's modest market capitalization of just $4.4 million, the company plans to finance the massive investment by leveraging its own shares. This has raised concerns among investors, leading to a 7% drop in the company’s stock following the announcement. Company representatives emphasized that discussions are ongoing and no binding agreement has been finalized yet.
