Ethereum

Bitcoin

Million

Standard

Read

<a href="https://bitcoinworld.co.in/chinese-company-announces-it-will-invest-100-million-in-bitcoin-and-ethereum/" title="Chinese Company Announces It Will Invest $100 Million in Bitcoin and Ethereum" rel="noopener noreferrer nofollow"></a>
<ul>
 <li style="font-weight: 400">Chinese company Boyaa Interactive announced that it plans to invest in cryptocurrencies, especially Bitcoin (BTC) and Ethereum (ETH), provided that they do not exceed 100 million dollars.</li>
</ul>
Chinese gaming company, Boyaa Interactive, announced its plan to invest in cryptocurrencies.&nbsp;
Boyaa Interactive is <a href="https://en.bitcoinsistemi.com/chinese-company-announces-it-will-invest-100-million-in-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">one</a> of China’s largest gaming companies and also traded on the Hong Kong stock exchange. The company made an official statement that it plans to invest in cryptocurrencies, especially Bitcoin (BTC) and Ethereum (ETH), provided that it does not exceed 100 million dollars within a year. announced.
Although China maintains its prohibitive stance towards Bitcoin and cryptocurrencies, crypto adoption continues to increase.
This move by Boyaa Interactive was considered as a bullish indicator that institutional investors are increasingly interested in investing in digital assets and for the cryptocurrency market.
In the statement, the company stated that the cryptocurrencies it plans to purchase are BTC, ETH, USDT and USDC and said:
Read Also: <a class="row-title" href="https://bitcoinworld.co.in/standard-chartered-unit-launches-tokenization-platform-libeara/" aria-label="“Standard Chartered Unit Launches Tokenization Platform Libeara” (Edit)" rel="noopener noreferrer nofollow">Standard Chartered Unit Launches Tokenization Platform Libeara</a>
“The types of cryptocurrencies that can be purchased must meet the needs of the company’s business development strategy and asset allocation strategy, and must be evaluated and approved by the company’s virtual asset management and risk control department.
The cryptocurrency to be purchased based on the purchase authorization must be a cryptocurrency issued by the Board of Directors, with good market liquidity, large market capitalization, widely recognized by the market, and relatively long-term holding value.
The cryptocurrencies that the group plans to purchase within the scope of its purchasing authority will mainly be Bitcoin (BTC) and Ethereum (ETH).
Currently, approximately $45 million each is expected to be used to purchase Bitcoin (BTC) and Ethereum (ETH), and no more than $10 million is expected to be used to purchase Tether (USDT) and US Dollar Coin (USDC).”
In its statement in August, the company stated that they allocated a budget of 5 million dollars for cryptocurrency investments. But the company is getting more involved in crypto adoption, stating in a statement today that it is allocating more funds for cryptocurrency purchases.
<blockquote>
 Disclaimer: The information provided is not trading advice. Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.
</blockquote>
The post <a href="https://bitcoinworld.co.in/chinese-company-announces-it-will-invest-100-million-in-bitcoin-and-ethereum/" rel="noopener noreferrer nofollow">Chinese Company Announces It Will Invest $100 Million in Bitcoin and Ethereum</a> appeared first on <a href="https://bitcoinworld.co.in" rel="noopener noreferrer nofollow">BitcoinWorld</a>.

Chinese Company Announces It Will Invest $100 Million in Bitcoin and Ethereum

ItsBitcoinWorld

Other articles published on Nov 15, 2023

Is The BlackRock XRP ETF Filing Real? Authorities Begin Investigation

SEC rakes in $5b in 2023 fiscal year claims

Bitget lists Neutron (NTRN) in the Innovation Zone and Cosmos Ecosystem Zone

ENPH Stock Price Shot up 16%; Will it Regain $100 Mark?

Google’s Artificial Intelligence Indicates a Price Range of $40,000 to $60,000 for Bitcoin in 2024

WonderFi acquires Bitvo, expanding its hold on the Canadian crypto market

Join our free newsletter for daily crypto updates!