Success Universe invests in Bitcoin

The casino operator seeks to diversify the group’s investment portfolio with an acquisition of 23.4 units of Bitcoin.

Macau.- Macau casino investor Success Universe Group Limited, which operates Macau’s Ponte 16 casino, has announced it has acquired approximately 23.4 units of Bitcoin.

The purchase was made as an investment at a cost of (HK$10.1m) US$1.3m.

Success Universe stated in a press release: “Although the cryptocurrency market is volatile in the near-term and the prices of cryptocurrencies may be subject to fluctuations, the Board believes that there is still room for cryptocurrencies in general.”

The company said the investment would diversify the Group’s investment portfolio and enhance its asset value.

In March, Success Universe reported a loss attributable to owners of the company of HK$141.9m (US$18.3m) for 2020.

The company attributed the loss to the impact of the Covid-19 pandemic throughout 2020.