According to financial news agency on December 27 (Editor Zhao Hao), on Thursday (December 26) during the early trading of US stocks, KULR Technology Group, Inc. (stock code: KULR) stock price surged, reaching a peak increase of nearly 44% to 4.9199 USD per share, setting a new historical high.

As of the time of writing, KULR's increase narrowed to around 25%, reported at 4.29 USD per share. Since the beginning of the month, the stock has accumulated a rise of 270%.

In the news, KULR announced on its official website that the company has launched a "Bitcoin Reserve" and completed a trade—purchasing 217.18 Bitcoins for a total price of approximately 21 million USD, averaging 96,556.53 USD per Bitcoin.

It should be noted that KULR is not a financial-related company, nor is it like MicroStrategy, which is associated with Software and Technology.

According to the press release, KULR is a battery technology company that provides cutting-edge energy storage solutions for space, Aerospace & Defense, with the USA National Aeronautics and Space Administration (NASA) as one of its customers.

Regarding the decision to establish a Bitcoin Reserve, KULR explained that the company announced this Global Strategy on the 4th of this month. At that time, KULR's balance sheet had over 12 million USD in cash and committed to allocating 90% of surplus cash to Bitcoin.

KULR Chairman and CEO Michael Mo emphasized in a press release on the 4th, 'We believe that while the acceptance of Bitcoin is still in its early stages globally, it is continuously improving.'

'Businesses, Financial Institutions, governments, and Capital Markets are recognizing blockchain technology and incorporating Bitcoin into their overall economic toolkit. Bitcoin's unique characteristics offer potential for long-term appreciation and can withstand geopolitical, inflation, and Other macroeconomic and political trends affecting all developed economies.'

'Given that our balance sheet has improved, including an increase in Cash / Money Market balance, I believe that the Bitcoin financial strategy will strengthen KULR's financial position as we strive to expand our Business and responsibly manage our financial capital by increasing independent financial reserves.'

KULR also mentioned that the acceptance of Bitcoin as an Asset by the U.S. federal government is increasing, with Republican Senator Cynthia Lummis proposing a draft to establish a national strategic Bitcoin reserve, a possibility recently emphasized by elected President Trump.

Since the U.S. election day, Bitcoin has become one of the hottest symbols in the investment market, as Trump has promised to become the 'cryptocurrency president', reportedly aiming to create 'the most Bitcoin-supportive government ever', and Bitcoin's price has skyrocketed as a result.

Notably, in a document submitted to the U.S. Securities and Exchange Commission (SEC) on Monday, the aforementioned MicroStrategy intends to increase the authorized shares of Class A common stock and preferred stock to raise more funds for purchasing Bitcoin.