Boyaa Interactive, the largest online poker game developer in China, recently announced to shareholders its plan to purchase $100 million worth of cryptocurrencies.
China’s Largest Poker Game Development Company Plans to Gradually Buy $100 Million in BTC and ETH
This investment portfolio will first focus on purchasing BTC and ETH, gradually purchasing them over 12 months for a value of no more than $100 million, according to a Boyaa Interactive circular sent to shareholders.
Boyaa Interactive, a Hong Kong-listed company and China’s largest board and card game company, said it will purchase cryptocurrencies with a total amount of no more than $100 million within 12 months, mainly BTC and ETH. https://t.co/zSJDxgQwXp
— Wu Blockchain (@WuBlockchain) November 14, 2023
Accordingly, the time of purchase will be considered according to market fluctuations and will be implemented immediately. Therefore, Boyaa Interactive will seek shareholder approval, but will not be able to obtain everyone’s opinions before making the purchase.
Because there can be no guarantees regarding the timing, volume, or price of any cryptocurrency purchased or sold, Boyaa Interactive advises shareholders and investors to exercise caution when trading the company’s stock.
A meeting to discuss this plan will be sent to shareholders by November 30, 2023.
The cryptocurrency market has recently welcomed the first waves of growth, in October 2023 Bitcoin increased by more than 28% reaching the highest price since May 2022, and the main reason is the fact that many big Street Walls open the proposal to establish Bitcoin spot ETFs.
With such positive initial steps, large market players have also helped “aggressively harvest” BTC into their wallets. Typically, MicroStrategy said it spent another $5.3 million to purchase 155 BTC last October, bringing the company’s total holdings to 158,400 BTC, and this investment has now generated a profit of $900 million.
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