BoYa Interactive's Bitcoin and Ethereum Holdings Worth $285 Million, Realized Nearly $100 Million Profit

BoYa Interactive's Bitcoin and Ethereum Holdings Worth $285 Million, Realized Nearly $100 Million ProfitOn November 12th, as Bitcoins price surged past $90,000, publicly listed company BoYa Interactive (0434.HK) issued an announcement voluntarily disclosing its cryptocurrency holdings

BoYa Interactive's Bitcoin and Ethereum Holdings Worth $285 Million, Realized Nearly $100 Million Profit

On November 12th, as Bitcoins price surged past $90,000, publicly listed company BoYa Interactive (0434.HK) issued an announcement voluntarily disclosing its cryptocurrency holdings.

The announcement revealed that, as of the announcement date, BoYa Interactive held 2,641 Bitcoins, with a total cost of approximately $143 million, averaging about $54,000 per Bitcoin. Additionally, the company held 15,445 Ethereum, with a total cost of approximately $42,578,100, averaging about $2,756 per Ethereum.

Based on the market prices at 8 am on November 13th, Bitcoin was trading at around $88,800, and Ethereum at $3,250.37. Using these prices, BoYa Interactive's Bitcoin and Ethereum holdings were valued at approximately $285 million, resulting in a profit of nearly $100 million.

It's worth noting that BoYa Interactive explicitly stated in the announcement that its purpose for holding Bitcoin and Ethereum is "to provide potential investment returns for the company and explore their applications in gaming and entertainment."

BoYa Interactive is a Hong Kong-listed company primarily engaged in mobile game development and operation. Established in 2005, the company has over 500 million users worldwide. In recent years, BoYa Interactive has been actively exploring new business areas, starting to invest in cryptocurrencies in 2021.

BoYa Interactive's disclosure of its holdings has drawn market attention. Some analysts believe this signifies that a growing number of publicly listed companies are incorporating cryptocurrencies into their investment portfolios. As the cryptocurrency market matures, it is expected that more companies will join in investing in cryptocurrencies in the future.

However, some investors are concerned about the high volatility of the cryptocurrency market, which could pose risks to companies. In the announcement, BoYa Interactive also reminded investors that cryptocurrency prices are highly volatile and carry potential risks, urging them to invest cautiously.

Overall, BoYa Interactive's disclosure of its holdings reflects the growing interest of publicly listed companies in cryptocurrency investments. As the cryptocurrency market continues to evolve, more companies will likely join the ranks of cryptocurrency investors, leading to new applications and use cases.