In May 2013, investor Davinci Jeremie urged people to “just buy $1 worth of Bitcoin” for potentially life-changing returns. At the time, BTC was valued around $100. Investors who were smart enough to heed his advice at any point over the next 10 years were able to get in on Bitcoin before the US ETF bonanza sent the price surging past $100,000 for the first time.
Now, corporations are beginning to realize the value of investing in Bitcoin. Michael Saylor’s Strategy, formerly MicroStrategy, has seen its stock price surge by more than 2,200% since acquiring its first Bitcoin. However, companies don’t need to accumulate more than 478,000 BTC to benefit from Bitcoin exposure.
Hong Kong investment firm HK Asia Holdings saw its stock price surge by 93% after buying just one Bitcoin. That’s not a bad return for buying Bitcoin around 12% from its all-time high.
This week’s Crypto Biz newsletter explores the Bitcoin economy, focusing on HK Asia’s purchase, the expanding economic footprint of Bitcoin mining and the growing institutional interest in Strategy.
HK Asia’s Bitcoin gambit
Hong Kong-based investment firm HK Asia Holdings acquired one Bitcoin for about $96,150 on Feb. 13. Three days later, it disclosed the investment and saw its share price spike by almost 93%.
The stock reached a daily peak of 5.50 Hong Kong dollars, or 71 US cents, the highest in four-and-a-half years.
The decision to acquire a single Bitcoin was greenlighted by the company’s board, which was encouraged by the “increasing popularity of cryptocurrencies in the commercial world.” The purchase is “symbolic in scale and marks a significant step toward aligning with the evolving global financial landscape,” the company said.
HK joins several companies from across Asia, including Hong Kong construction firm Ming Shing and Japan-based Metaplanet, in buying Bitcoin. In the case of Metaplanet, the company’s shares have spiked by more than 3,900% since disclosing its first Bitcoin purchase.
Bitcoin mining industry created 31,000 US jobs
Bitcoin miners aren’t just generating record profits — they’re having a dramatic impact on the overall economy. According to a report by the Perryman Group that was published by The Digital Chamber and Texas Blockchain Council, the Bitcoin mining industry has created more than 31,000 US jobs.
Most of the jobs were concentrated in 12 states, with Texas accounting for more than one-third of the total. Georgia, North Dakota and New York have also seen a noticeable uptick in mining-related hires.
The report found that Bitcoin mining activities generated $4.1 billion in annual GDP and supported local energy grids as a load-balancing resource. These trends bode well for the Trump administration’s newfound support for Bitcoin mining.
12 US states have indirect exposure to Bitcoin
Twelve US states have reported holding shares of Strategy (MSTR), Michael Saylor’s business intelligence firm turned de facto Bitcoin bank. Retirement funds and treasuries in California, Florida, Wisconsin and North Carolina hold the heaviest MSTR bags, according to Bitcoin analyst Julian Fahrer.
For example, the California State Teachers Retirement System holds 264,713 MSTR shares worth roughly $76 million. Florida’s State Board of Administration has scooped up 160,470 shares worth around $46 million.
In total, the 12 states have $330 million worth of MSTR exposure.
Strategy is by far the world’s largest corporate Bitcoin treasurer, holding 478,740 BTC on its books.
Tether co-founder launches USDt competitor
After selling Tether to the operators of Bitfinex in 2014, when it was valued at less than $1 billion, the stablecoin’s co-founder Reeve Collins is launching a decentralized competitor that will let holders earn yields.
In the second half of 2025, Collins plans on launching Pi Protocol on the Ethereum and Solana blockchains. The protocol will use smart contracts to mint the USP stablecoin in exchange for the yield-generating USI token. The stablecoin will be fully backed by bonds and other real-world assets, said Collins.
The stablecoin market is seeing a flurry of activity this year as Tether’s USDt (USDT) fends off competitors, including Circle’s USD Coin (USDC), Ethena’s USDe (USDE) and Dai (DAI). Collectively, stablecoins are valued at more than $225 billion, according to DefiLlama.
Stablecoins had a record 2024, with the value of transactions outpacing both Visa and Mastercard.
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