China is ready to take action on the crypto market，Boyaa Interactive Invests $1 Million in Bitcoin Ecosystem Fund

On 16th July, Hong Kong Stock Exchange-listed Boyaa Interactive announced a $1 million investment in the UTXO Management Bitcoin Ecosystem Fund.

UTXO partners with BTC Inc., the parent company of Bitcoin Magazine and organiser of the Bitcoin Conference.

Strategic Collaboration

Boyaa plans to collaborate with BTC Inc. strategically, indicating a deepening commitment to Bitcoin. The company aims to leverage Hong Kong's favourable Web3 policies to establish itself as a leading Web3 company in Asia.

Evolving Bitcoin Ecosystem

The Bitcoin ecosystem has seen significant evolution, with developments like Ordinals, BRC20, and Runes transforming the blockchain from a simple transactional currency to a diverse digital asset platform.

This growth has attracted various players keen on capitalising on these innovations.

Boyaa's investment and collaboration with BTC Inc. aim to promote the Group’s development in the Web3 industry.

The company intends to use its experience in web games and Hong Kong's supportive Web3 policies to become a leading Web3 listed company.

Treasury Management Strategy

Reports suggest Boyaa Interactive is purchasing $100 million worth of Bitcoin for its treasury. Last year, the firm revealed plans to buy up to $100 million worth of cryptocurrencies, including Bitcoin and Ethereum, within a year.

Boyaa planned to allocate approximately $45 million each for BTC and ETH, and up to $10 million for stablecoins like Tether USD (USDT) and USD Coin (USDC). This strategy aims to diversify its Treasury management by redirecting idle reserve funds into cryptocurrencies.

This move aligns with a growing trend of companies incorporating Bitcoin into their treasury assets. Firms like Metaplanet, Semler Scientific, and DeFi Technologies have recently acquired over 1,000 BTC, viewing it as a hedge against inflation and monetary instability.