May 23, 2024 Grandpa checks in
Today I came across an interesting story about Boyaa Interactive. According to the first quarter performance report of 2024 released by Boyaa Interactive, it was disclosed that it held 1,956 Bitcoins and 15,222 Ethereums, of which the cost price of Bitcoins was $50,805 and the cost price of Ethereum was $2,756. Benefiting from the surge in crypto assets in the first quarter, Boyaa Interactive's profit increased by 1,130% year-on-year, and its stock price also quadrupled.
It is not new for listed companies to buy Bitcoin or Ethereum as asset reserves or investments, but it is still rare among Chinese companies listed on the Hong Kong stock market. As this trend continues, many companies that have seen their asset value increase significantly due to the purchase of real estate will see their asset value increase again due to crypto assets.
The most famous company that buys Bitcoin is MicroStrategy, which buys regularly. When the price of Bitcoin rises, its stock price also rises. Now people no longer bother to discuss whether Bitcoin has value or whether it will return to zero, because the fact is that more and more people are joining the holding camp. In the future, Bitcoin holders will definitely be diverse, and the value storage and investment attributes will be used by more non-private funds, and the volume and scale of this will far exceed that of retail investors.
In terms of the market, the volatility of Ethereum in the short term is very high. The market is waiting for the news that the ETF will eventually pass. In any case, I think you should not bet on this news, but hold a position that you can afford. The same is true for choosing to sell. For example, I can accept how much to sell at 4,000 points first, so I will set up some option sell orders. If the news is not confirmed in the end and the price falls, it is completely acceptable. Although the market expectations are relatively high now, the price of Ethereum has not continued to rise, so the gambling component is relatively large. It is recommended that everyone should focus on the medium and long term.
Thank you for your attention and likes.
