Chinese gaming company Boyaa Interactive, listed on the Hong Kong Stock Exchange, has shifted a significant portion of its crypto holdings from Ethereum to Bitcoin. The company converted 14,200 ETH into approximately 515 BTC in an open-market transaction worth $49.48 million. This move positions Boyaa as Asia’s largest corporate Bitcoin holder, surpassing Japan’s Metaplanet.
The shift follows Boyaa’s announcement last year to invest up to $100 million in cryptocurrencies, including Bitcoin and Ethereum, as part of its strategy to diversify its treasury management. This institutional shift toward Bitcoin aligns with broader movements like the push for a national Bitcoin reserve in the United States and other nations exploring BTC’s potential role in reserve management.
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<p>The post Boyaa Interactive Shifts Crypto Holdings from Ethereum to Bitcoin, Becoming Asia’s Largest Corporate Bitcoin Holder. first appeared on CoinBuzzFeed.</p>
