Boyaa Interactive International Limited, a major player in the online gaming realm, has announced its plans to venture into the cryptocurrency market. This move signifies an increasing convergence of technology, gaming, and finance. The company is allocating $100 million to purchase Bitcoin, Ethereum, as well as Tether and USDC stablecoins.
According to their press release, approximately $45 million will be allocated to both Bitcoin and Ethereum. The remaining $10 million is specifically earmarked for acquiring stablecoins to counter market volatility. This investment aligns with Boyaa’s ambitious plans to integrate web3 technology into its online gaming platform.
Based on the price level at the time, if Boyaa were to purchase at $36,700, they could acquire approximately 1,226 BTC. This would position them as the richest Chinese company in Bitcoin holdings, surpassing the current leader, Meitu Inc. However, MicroStrategy remains the frontrunner, holding over 158,000 BTC.
Boyaa Interactive International Limited, also known as Boyaa Interactive, was established in 2004 in Shenzhen as “Shenzhen Oriental Boyaa Technology Co., Ltd.” The company operates and sells chess and card game development and operation in mainland China, including game products such as “Texas Hold’em,” “Landlords,” “Mahjong,” “Chinese Chess,” and “Insect Invasion Team.” The company’s shares were listed on the main board of the Hong Kong Stock Exchange on November 12, 2013.