Ethereum

JUST

Bitcoin

<div class="watcher-guru">
 <p>China’s largest board and card game company, Boyaa Interactive, is set to spend $100 million on purchasing cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). Indeed, the Hong Kong-listed company is set to acquire the digital assets over the next 12 months, according to a published update.</p>
 <p>The online card game developer joins a list of public companies seeking a point of entry into digital assets. Subsequently, the initiative to acquire the digital assets was crafted by the board of directors. Moreover, the plan is currently pending approval from its shareholders.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">JUST IN: 🇨🇳 China's largest board and card game company, Boyaa, to acquire $90 million worth of #Bitcoin and Ethereum.</p>
    <div class="quads-location quads-ad33739 " id="quads-ad33739" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
     <div class="publift-ad add">
      <div data-fuse="22560828227"></div>
     </div>
    </div> — Watcher.Guru (@WatcherGuru) November 14, 2023
   </blockquote>
  </div>
 </figure>
 <p><strong>Also Read: Bitcoin (BTC) Price on Thanksgiving 2022</strong></p>
 <h2 class="wp-block-heading" id="h-china-s-largest-card-game-company-spending-big-on-bitcoin-and-ethereum">China’s Largest Card Game Company Spending Big on Bitcoin and Ethereum</h2>
 <p>2022 was undoubtedly a year-long crypto winter for the digital asset sector. However, things have certainly looked up this year, as the industry has maintained a sort of return to form. Moreover, part of that comeback is due to the host of companies that are seeking to get involved in the industry. That fact is reaffirmed through one huge initiative set in place by one of China’s largest companies.</p>
 <div class="quads-location quads-ad15192 " id="quads-ad15192" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div id="primisContainer" class="add"></div>
 </div>
 <p>Indeed, China’s Boyaa Interactive has announced its plan to spend $100 million on purchasing Bitcoin (BTC), Ethereum (ETH), and other cryptocurrencies. Specifically, the plan was announced in a newly published update and would take place over the next 12 months.</p>
 <figure class="wp-block-image size-large"><img decoding="async" width="1024" height="576" src="https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp" alt class="wp-image-117288" srcset="https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 1024w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 300w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 768w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 1536w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 380w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 550w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 800w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 1160w, https://cdn.thebittimes.com/images/2023/11/13/f1a7f0d1b4e14204b32e9e8944c94628.webp 1920w" sizes="(max-width: 1024px) 100vw, 1024px">
  <figcaption class="wp-element-caption">
   Source: Blockchain Reporter
  </figcaption>
 </figure>
 <p><strong>Also Read: Ethereum Price on Black Friday 2022</strong></p>
 <p>The plan is currently pending approval from shareholders due to its overarching nature. Indeed, the board of directors is ensuring the $100 million fund is readily available. Subsequently, they would be able to curtail “prior shareholder approval for each purchase.”</p>
 <p>The approval would then see a large selection of the funds used for acquiring BTC and ETH. Specifically, $45 million would be allocated to the two largest cryptocurrencies by market cap. Thereafter, $10 million would be used by Boyaa to purchase stablecoins like Tether and USD.</p>
 <div class="quads-location quads-ad33742 " id="quads-ad33742" style="float:none;margin:0px 3px 3px 3px;padding:0px 0px 0px 0px;">
  <div class="publift-ad add">
   <div data-fuse="22560828233"></div>
  </div>
 </div>
 <p>Conversely, a previous plan that was approved in August led to $5 million in crypto being purchased in the upcoming year. This plan approval would then increase the amount used for the acquisition of digital assets by the company.</p>
</div>
<div class="cs-entry__tags">
 <ul>
  <li>bitcoin</li>
 </ul>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/china-s-boyaa-interactive-to-spend-90m-on-bitcoin-and-ethereum-tbt70255.html">https://thebittimes.com/china-s-boyaa-interactive-to-spend-90m-on-bitcoin-and-ethereum-tbt70255.html</a></p>

China's Boyaa Interactive to Spend $90M on Bitcoin and Ethereum

Table of Contents

TheBitTimes

Other articles published on Nov 14, 2023

Disney Ventures Into NFT: Collaborates With Dapper Labs For Pixar And Star Wars Collectibles

Here’s the ‘Home Run’ Trade for Crypto’s Next Cycle That Could Print 5-10X Gains, According to In...

XRP Coin Analysis: Recent Developments and Price Predictions

Coinbase expands crypto futures with Solana and Avalanche

Pepe (PEPE) Price Prediction – 2023 2025 2030 2040 2050

Berteknologi Blockchain, Fnality International Kantongi Dana U$95 Juta dari Goldman Sachs dan BNP...

Join our free newsletter for daily crypto updates!