Boya Interactive Plans to Invest Up to $70 Million to Purchase Cryptocurrency

BlockBeats News, March 22, Hong Kong-listed company Boyaa Interactive (00434.HK) announced that the board of directors has proposed seeking shareholder approval to grant a purchase authorization to use the company's business operation-generated idle cash reserves for potential cryptocurrency purchases in the next 12 months, totaling no more than $70 million.

Boyaa Interactive stated that this move takes advantage of the opportunity during the downturn in the cryptocurrency market to appropriately increase the allocation of cryptocurrency, further supporting the company's Web3 business development. In addition, Boyaa Interactive currently holds 4,092 bitcoins, 302 ethereums, and 7.0007 million USDT. The average prices of bitcoin and ethereum are $68,200 and $1,661, respectively.