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Hong Kong-based Bitfire Plans to Buy More Than 10,000 Bitcoin in a Year

According to Reuters, Bitfire said its new Alpha BTC strategy targets more than 10,000 BTC over 12 months, while separate reports say Avenir Group’s trading team and system were acquired for $1.6 million.

BTC

Fact Check
All three validated sources — BlockBeats, Odaily, and PANews — independently relay the same Bloomberg-reported facts: Bitfire Group is buying Avenir Group's trading team and system, Bitfire has attracted about $500 million in initial investment interest, it added roughly 300 private banking clients since August, and it plans to expand trading into Ethereum and stablecoins later this year. Odaily specifically says Bitfire CEO Livio Weng confirmed the deal. However, confidence is medium rather than high because the primary Bloomberg article was referenced but not directly fetched in this run, and no direct company filing or official statement from Bitfire or Avenir was obtained.
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Summary

According to Reuters, Hong Kong-based Bitfire plans to buy more than 10,000 Bitcoin over one year under its new Alpha BTC strategy, a target previously valued at about $760 million. Separate reports said New Huo Technology, and earlier Sinohope Technology, acquired Avenir Group’s investment team and trading system for $1.6 million in connection with Alpha BTC, while earlier coverage had instead identified Bitfire Group as the buyer. Additional reporting said Avenir Group held 18.3 million shares of BlackRock’s iShares Bitcoin Trust (IBIT), worth about $908 million by the end of 2025. The planned scale of Bitcoin accumulation is consistent across reports, but the identity of the acquiring entity remains inconsistent.

Terms & Concepts
  • Alpha BTC: The name used in the reports for the Bitcoin-focused strategy or asset management product targeting more than 10,000 BTC within one year.
  • BTC: The ticker symbol for Bitcoin, commonly used to denote the cryptocurrency and Bitcoin-based balances or targets.
  • IBIT: BlackRock’s iShares Bitcoin Trust, a spot Bitcoin ETF that gives investors regulated market exposure to Bitcoin.