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Boyaa Interactive, a Hong Kong-listed gaming titan, has converted $49.48 million worth of Ethereum holdings into Bitcoin, positioning itself as Asia’s largest corporate Bitcoin holder. The firm converted 14,200 ETH into 515 BTC boosting its total holdings to 3,183 BTC, according to a Nov. 29 filing.
In a <a href="https://www1.hkexnews.hk/listedco/listconews/sehk/2024/1129/2024112900231.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a> dated November 29, the company disclosed that it had exchanged ETH for BTC in an open-market transaction valued at $49.48 million. Boyaa initially acquired the Ethereum at an average price of $2,777 per ETH, totaling $39.45 million, marking a considerable appreciation in value before the conversion.
As a result, Boyaa’s total Bitcoin holdings have increased to 3,183 BTC, with an average acquisition cost of $57,724 per Bitcoin. This move positions Boyaa as Asia’s largest corporate Bitcoin holder, overtaking Japan’s Metaplanet, which is also known for its aggressive Bitcoin acquisition strategy.
This strategic pivot reflects the company’s treasury diversification efforts and highlights Bitcoin’s growing appeal as an institutional asset. Boyaa’s holdings now surpass those of Japan’s Metaplanet, a notable BTC accumulator.
Bitcoin’s stellar market performance, more than doubling this year and nearing $100,000, has fueled optimism. President-elect Donald Trump’s pro-Bitcoin agenda, including calls for a national BTC reserve, further underscores its rising prominence.
Boyaa plans to continue leveraging digital assets, following its pledge to invest up to $100 million in cryptocurrencies as part of its treasury strategy.
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 Also Read: <a href="https://www.cryptotimes.io/2024/11/29/metaplanet-to-raise-62m-to-purchase-more-bitcoin/" target="_blank" rel="noopener noreferrer nofollow">Metaplanet to Raise $62M to Purchase More Bitcoin</a>
</blockquote>

Chinese Giant Boyaa Converts $49M Ethereum to Bitcoin Holdings

The Crypto Times

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