Fidelity ups stake in Hong Kong cryptocurrency company BC Group

HONG KONG, Jan 12 – Fidelity has increased its
stake in Hong Kong cryptocurrency company BC Technology Group
Ltd to 6.29% after investing HK$52 million ($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 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. REUTERS
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