BoYa Interactive "Bets Big" on Cryptocurrencies: Nearly US$100 Million in Unrealized Gains from Bitcoin and Ethereum Holdings

BoYa Interactive "Bets Big" on Cryptocurrencies: Nearly US$100 Million in Unrealized Gains from Bitcoin and Ethereum HoldingsOn November 12th, as Bitcoin's price surged past US$90,000, BoYa Interactive (0434.HK) voluntarily disclosed its holdings, drawing market attention

BoYa Interactive "Bets Big" on Cryptocurrencies: Nearly US$100 Million in Unrealized Gains from Bitcoin and Ethereum Holdings

On November 12th, as Bitcoin's price surged past US$90,000, BoYa Interactive (0434.HK) voluntarily disclosed its holdings, drawing market attention. The company's announcement revealed that, as of the announcement date, it held 2,641 Bitcoins with a total cost of approximately US$143 million, averaging around US$54,000 per coin. It also held 15,445 Ethereum with a total cost of approximately US$42,578,100, averaging around US$2,756 per coin.

As of 8:00 AM on November 13th, Bitcoin was trading at approximately US$88,800, while Ethereum was at US$3,250.37. Based on these prices, BoYa Interactive's Bitcoin and Ethereum holdings were valued at around US$285 million, representing an unrealized gain of nearly US$100 million.

BoYa Interactive began purchasing cryptocurrencies in 2023, primarily Bitcoin, Ethereum, and Tether. The company's investment in cryptocurrencies is not a short-term strategy, but rather a crucial initiative for its Web3 business development and layout, as well as a significant component of its asset allocation strategy.

Cryptocurrency Investment as a Growth Engine for Performance

BoYa Interactive's semi-annual report disclosed that, as of June 30, 2024, the company held approximately 2,079 Bitcoins with an average cost of US$51,299 per coin and 15,279 Ethereum with an average cost of US$2,756 per coin. As of August 22, 2024, it held approximately 2,410 Bitcoins with an average cost of US$51,856 per coin and 15,343 Ethereum with an average cost of US$2,756 per coin.

It is worth noting that BoYa Interactive's performance is also influenced by cryptocurrency trends. In the second quarter of 2024, the company reported revenue of approximately RMB 105 million, a year-on-year increase of approximately 5.8%. BoYa Interactive attributed this increase to "digital asset appreciation gains from the group's cryptocurrency holdings."

BoYa Interactive: A Leading Company in the Card Game Sector

BoYa Interactive, a developer and operator of card games, was founded in 2004 and listed on the Hong Kong Stock Exchange in 2013 (stock code 0434.HK). The company has developed numerous online card games, such as BoYa Texas Hold'em Poker, BoYa Landlord, BoYa Chinese Chess, and BoYa Sichuan Mahjong, boasting a large user base both domestically and internationally.

Listed Companies "Embrace" Cryptocurrencies

Besides BoYa Interactive, other listed companies like ZhiDu Holdings (000676.SZ) also hold Bitcoin assets. With the growth of the cryptocurrency market, an increasing number of listed companies are turning their attention to this emerging field, viewing cryptocurrencies as a crucial direction for future development.

Risk Warning

The cryptocurrency market is highly volatile and carries significant investment risks. Investors should fully understand the associated risks before making investment decisions, invest cautiously, and bear the responsibility for their investment decisions.

Disclaimer

The content of this article is for reference only and does not constitute any investment advice. Investors operate at their own risk.