Chinese Bitcoin And cryptocurrencyDespite maintaining its prohibitive stance towards cryptocurrencies, crypto adoption continues to grow.
at this point Boyaa Interactive, one of China’s largest gaming companies and also listed on the Hong Kong stock exchange In his official statement, within a year He announced that he plans to invest in cryptocurrencies, including Bitcoin (BTC) and Ethereum (ETH), provided that they do not exceed 100 million dollars.
This move by Boyaa Interactive was considered as a bullish indicator that institutional investors are increasingly interested in investing in digital assets and for the cryptocurrency market.
In the statement, the company plans to purchase cryptocurrencies BTC, ETH and USDT and USDC He stated that:
“The types of cryptocurrencies that can be purchased must meet the needs of the company’s business development strategy and asset allocation strategy, and must be evaluated and approved by the company’s virtual asset management and risk control department.
The cryptocurrency to be purchased based on the purchase authorization must be a cryptocurrency issued by the Board of Directors, with good market liquidity, large market capitalization, widely recognized by the market, and relatively long-term holding value.
The cryptocurrencies that the group plans to purchase within the scope of its purchasing authority will mainly be Bitcoin (BTC) and Ethereum (ETH).
Currently, approximately $45 million each is expected to be used to purchase Bitcoin (BTC) and Ethereum (ETH), and no more than $10 million is expected to be used to purchase Tether (USDT) and US Dollar Coin (USDC).”
In its statement in August, the company said: cryptocurrency He stated that they allocated a budget of 5 million dollars for their investments. But the company is getting more involved in crypto adoption, stating in a statement today that it is allocating more funds for cryptocurrency purchases.
*This is not investment advice.
For exclusive news, analysis and on-chain data Telegram our group, twitter our account and YouTube Follow our channel now! Moreover Android And iOS Start live price monitoring now by downloading our applications!