Per multiple reports, Addentax Group Corp.—a Nasdaq-listed Chinese textile and garment company—announced plans to acquire up to 8,000 BTC, along with memecoins such as the TRUMP token, through a common-stock issuance valued at approximately $800 million to select crypto holders.

Addentax CEO Hong Zhida said the move aligns with the firm’s broader blockchain strategy to strengthen its balance sheet and introduce strategic crypto-experienced investors to the shareholder base.

Negotiations are ongoing; no definitive deal has been finalized. Initial market reactions were mixed—shares fell by more than 8%—reflecting investor skepticism despite rising institutional interest in Bitcoin and other digital assets.

This move mirrors a growing trend of non-financial, traditional industry firms using digital assets to hedge inflation and diversify portfolios, positioning crypto as a strategic corporate treasury component.

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