Bitcoin News Today: Asia's Wealthy Bet Big as Bitcoin Crosses $124K

Convano, a digital asset investment firm, has made a significant strategic move by acquiring 200 additional Bitcoin (BTC), bringing its total holdings to 364.93 BTC. The move underscores the firm's growing confidence in the asset class and reflects a broader trend of increasing institutional and high-net-worth interest in Bitcoin across Asia and globally. This acquisition is a continuation of Convano’s long-term investment strategy, which aligns with the asset's role as a portfolio diversifier and store of value.

Asia has emerged as a key market for cryptocurrency adoption, particularly among high-net-worth individuals and family offices. According to recent reports, some of these investors are allocating up to 5% of their portfolios to digital assets. The trend is being driven by a combination of regulatory developments, increasing mainstream acceptance, and a belief in Bitcoin’s potential as a hedge against macroeconomic uncertainty. Wealth managers in the region have reported a surge in inquiries, while crypto exchanges have noted a substantial rise in trading volumes and new fund demand.

Singapore, Hong Kong, and mainland China are at the forefront of this shift. Hong Kong’s HashKey Exchange, for example, reported an 85% year-on-year increase in registered users by August 2025, while South Korea’s major crypto exchanges experienced a 17% rise in trading volumes for the year. These developments are being supported by regulatory advancements such as the approval of spot Bitcoin and Ethereum exchange-traded funds (ETFs) in Hong Kong, which have encouraged institutional investors to take direct positions in the underlying assets.

In South Korea, the influx of over $130 billion in crypto flows has been largely attributed to professional traders and arbitrage strategies tied to the “kimchi premium.” Meanwhile, China has seen a shift in activity to over-the-counter (OTC) and peer-to-peer (P2P) platforms following a 2021 crackdown on exchanges. The country's wealthy individuals have increasingly turned to crypto as a means of preserving assets and facilitating cross-border transactions, particularly as traditional markets such as property and stocks have underperformed.

The global crypto market is also showing signs of maturity, with corporations like MicroStrategy and Meitu making headlines for their Bitcoin and Ethereum holdings. As Bitcoin recently reached an all-time high of $124,128, the asset continues to attract a diverse range of participants, from retail investors to institutional players. Analysts have suggested that the current bull market could see Bitcoin reaching as high as $200,000 within the next 6 to 12 months, driven by regulatory progress, macroeconomic dynamics, and growing adoption in both developed and emerging markets.

Convano’s acquisition of 200 BTC aligns with a broader industry movement toward strategic, long-term investments in Bitcoin. The firm’s decision to expand its holdings reflects not only a belief in the asset's long-term potential but also a recognition of the evolving landscape for crypto investments. As more institutions and wealth management firms explore digital assets as a core part of their portfolios, the market is expected to continue its trajectory of growth and institutionalization.

Source: [1] Wealthy Asian investors target 5% of portfolios in crypto as ... (https://cointelegraph.com/news/wealthy-asian-investors-target-crypto-adoption-broadens) [2] Crypto Demand On The Rise: Wealthy Asian Investors ... (https://www.mitrade.com/insights/news/live-news/article-3-1061086-20250822) [3] Bitcoin could reach $200,000 within 6 months during 'long ... (https://finance.yahoo.com/news/bitcoin-could-reach-200000-within-6-months-during-long-exhausting-crypto-bull-market-173358527.html) [4] Is It Too Late to Buy Bitcoin? (Expert Predictions) (https://coinledger.io/learn/is-it-too-late-to-buy-bitcoin)