Boyaa Interactive Spends $100 Million on Crypto

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  • Boyaa Interactive, a leading Chinese board game company, has unveiled plans to invest $100 million in cryptocurrencies
  • The company will buy bitcoin, Ether, USDT, and more over the next 12 months.
  • The initiative, pending shareholder approval, follows a broader trend of public companies entering the digital asset space.

Boyaa Interactive, a leading Chinese board and card game company, is making a significant foray into the cryptocurrency realm by committing $100 million to acquire digital assets. The company revealed this week that it has allocated the sum to cryptocurrencies including Bitcoin, Ethereum, and stablecoins in a move that aligns with the broader trend of increasing institutional interest in cryptocurrencies. The company will make the purchases over the next 12 months.

Boyaa Expands Crypto Plans

Boyaa’s plan, detailed in a recent update, aims to allocate $45 million to BTC and ETH, with an additional $10 million earmarked for stablecoins like USDT. The report noted that the deals will be constructed in such a way that the purchases can be made in an expedited fashion without requiring prior shareholder approval for each transaction.

The proposal represents an expansion of a previously approved plan in August, which authorized the purchase of $5 million worth of cryptocurrencies in the coming year. If approved, this updated initiative will significantly increase Boyaa’s investment in the digital asset market.

A Wider Trend

The company’s board of directors has proposed the move, which is currently pending shareholder approval, in alignment with Boyaa’s efforts to strengthen its presence in the emerging web3 landscape.

This move by Boyaa Interactive reflects the growing recognition of cryptocurrencies as a maturing asset class and their potential for long-term growth, with the company’s substantial investment underscoring the increasing confidence in the crypto sector and its potential to reshape the financial landscape.