Boyaa Interactive Swaps Ether for Bitcoin, Expanding Crypto Treasury

Hong Kong-based gaming company Boyaa Interactive International has made a strategic move to bolster its cryptocurrency holdings by swapping Ether for Bitcoin.

The company converted approximately 14,200 Ether, worth over $49 million, into 515 Bitcoin between November 19th and 28th. This decision aligns with Boyaa's broader strategy of expanding its Bitcoin reserves.

With this latest acquisition, Boyaa now holds 3,183 Bitcoin, valued at approximately $310.7 million. The company's third-quarter results revealed a previous holding of 2,635 Bitcoin and 15,388 Ether.

Why the Shift to Bitcoin?

Boyaa's board believes that the current market conditions are favorable for converting Ether to Bitcoin. The company's strategic plan emphasizes the long-term potential of Bitcoin and its growing adoption as a store of value.

A Growing Trend

Boyaa Interactive joins a growing list of companies that have embraced Bitcoin as a strategic asset. Other notable examples include:

• MicroStrategy: Known for its significant Bitcoin holdings, MicroStrategy recently added 55,000 Bitcoin to its treasury.
• Rumble: The video-sharing platform has also invested in Bitcoin as part of its treasury strategy.
• Semler Scientific and Genius Group: These companies have also allocated funds to purchase Bitcoin.

By diversifying their treasury assets with Bitcoin, these companies aim to hedge against inflation, capture potential upside, and position themselves for long-term growth.

December 2024, Cryptoniteuae