London-listed company Gem Resources purchased 9 bitcoins as reserve assets at an average price of $70,355

According to the disclosure by Gem Resources, a company listed on the London Stock Exchange, it has purchased 9 bitcoins as reserve assets through its wholly-owned subsidiary Gem Resources Hong Kong Limited, at a total cost of approximately $633,200, with an average price of about $70,355.56 per coin (excluding transaction fees). The transaction was completed through the regulated digital asset trading platform HashKey Exchange in Hong Kong, with funding sourced from the company's existing cash resources.

Including approximately $1,484.6 in transaction fees, the total expenditure reached $634,684.6. The company's Executive Chairman Louis Ching stated that this transaction took advantage of the "recent pullback in bitcoin prices" to establish a "moderate and controllable position."