Hong Kong-based company Boyaa Interactive, famous as China’s largest board and card game manufacturer, is poised to make a substantial introduction to the universe of cryptocurrencies. The company has brought out plans to invest $100 million in digital assets, principally focusing on top cryptocurrencies such as Ethereum (ETH) and Bitcoin (BTC).
Notably, as a leading creator of online card games, Boyaa Interactive joins a growing cohort of publicly traded companies exploring opportunities in the digital asset market. The decision to dive into cryptocurrencies has been formalized by the company’s board of directors. So, now it’s only awaiting endorsement from shareholders.
Furthermore, this strategic move aligns with Boyaa’s development and asset portion plan. This was expressed in a voluntary statement issued back in August 2023. Also, the company deems the acquisition of Bitcoin and other cryptocurrencies as integral to its development and future plans.
Additionally, to understand this significant investment initiative, Boyaa Interactive is seeking endorsement from its shareholders to designate funds for a $100 million acquisition plan. Notably, the proposed plan encompasses the acquisition of Bitcoin, Ethereum, and stablecoins over the span of a year. Of course, this is subject to endorsement at the upcoming Extraordinary General Meeting.
Progressively, under the planned designation, Boyaa Interactive intends to dispense $45 million each to Bitcoin and Ethereum. Then, the remaining funds will be earmarked for stablecoins such as Tether USD (USDT) and USD Coin (USDC), up to $10 million.
To conclude, the impending move into cryptocurrencies reflects Boyaa Interactive’s strategic vision to diversify its asset portfolio. Also, and to tap into the fast growing digital asset market. As the company awaits shareholder endorsement, this initiative marks a significant step. Not just for the company but also for the effort in bridging traditional gaming and the cryptocurrencies.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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