KULR Technology Stock Soars to All-Time High After $21M Bitcoin Purchase

Company Overview - KULR Technology Group Inc is an energy storage provider that recently made its first investment in bitcoin worth $21 million [5] - The company purchased 217.18 bitcoins at an average price of$96,556 per bitcoin [5] - KULR plans to allocate up to 90% of its surplus cash towards buying bitcoin as part of its "Bitcoin Treasury" strategy [5] Market Performance - KULR shares surged to an all-time high of $4.80 on Thursday following the bitcoin investment announcement [5] - The company's shares have jumped more than 16-fold since the US presidential election [5] - Trading volume for KULR shares reached 106.34 million [9] Industry Context - Bitcoin investors have seen significant returns this year as the cryptocurrency reached record highs [5] - Microstrategy (MSTR), the largest corporate holder of bitcoin, has seen its shares surge 50% since the election [5] - The reelection of Donald Trump, who aims to make the US the "crypto capital of the planet," has contributed to the cryptocurrency market's growth [5]