According to their statement they are in it for the short term and gain from its appreciation.
Well atleast they honest about it
And their view on its liquidity is true compared to most assets.
Its a short mention in the news, but I think they might be eyeing Bitcoin for long-term investment too.
It feels like theyre just testing the waters for now, and if the results turn out good, Im sure theyll consider holding Bitcoin long-term. After all, their main purpose seems to be liquidity so they can easily dispose of it anytime they need to.
I dont think theyre looking for liquidity as much as its an investment so Ill quote this part of the article:
Ming Shing said the funds came from idle reserves and viewed the Bitcoin purchase as a short-term investment to capture the potential appreciation of Bitcoin and increase its assets.
Most likely their plan is to sell Bitcoin by the end of Q1/Q2 and take some profits.
actually both..
Public construction firm Ming Shing Group has joined the list of non-tech companies diversifying into cryptocurrency, investing $47 million in Bitcoin
to enhance liquidity and boost asset value.
The only concern is that the company is registered in Hongkong. So it can be considered as a Chinese investment. I hope they won't act like an expansionist similar to what they do with land.
Regardless, it doesnt really matter since there are Chinese investors who are actively involved anyway. They operate in Hong Kong, where Bitcoin is legal, unlike in mainland China.
@Nwada001 (corrected, THANKS)>