According to PANews, Hong Kong-based Ming Cheng Group Holdings Limited, listed on NASDAQ under the ticker MSW, has announced that its wholly-owned subsidiary, Lead Benefit (HK) Limited, purchased 500 bitcoins on January 9, 2025. The acquisition was made at an average price of $94,375 per bitcoin, totaling approximately $47 million. The company aims to use its idle funds for this short-term investment to capitalize on the potential appreciation of bitcoin and enhance its asset portfolio. Ming Cheng views the bitcoin market as highly liquid, allowing for easy disposal of the cryptocurrency to fund its wet works engineering business when necessary.