Crypto Holdings Surge Amid Bitcoin Price Rally
On November 12th, as Bitcoin surpassed $90,000, Boyaa Interactive (0434.HK) voluntarily disclosed its cryptocurrency portfolio in a market announcement. The Hong Kong-listed gaming company revealed:
Bitcoin (BTC) Holdings: 2,641 BTC
- Total acquisition cost: ~$143 million
- Average purchase price: $54,000/BTC
Ethereum (ETH) Holdings: 15,445 ETH
- Total acquisition cost: ~$42.58 million
- Average purchase price: $2,756/ETH
👉 Discover how top companies are leveraging crypto assets
Current Valuation Shows Massive Gains
At press time (November 13th, 8:00 UTC):
- Bitcoin traded at ~$88,800
- Ethereum traded at ~$3,250.37
Portfolio Valuation: $285 million
Unrealized Profit: ~$100 million
This crypto windfall represents significant growth for Boyaa Interactive, whose market capitalization stood at HK$1.79 billion (~$228 million) as of November 12th.
Strategic Crypto Accumulation Since 2023
The company began accumulating digital assets in 2023, focusing on three primary cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT)
Holdings Growth Timeline:
| Date | BTC Held | Avg BTC Price | ETH Held | Avg ETH Price |
|---|---|---|---|---|
| Jun 2024 | 2,079 | $51,299 | 15,279 | $2,756 |
| Aug 2024 | 2,410 | $51,856 | 15,343 | $2,756 |
| Nov 2024 | 2,641 | $54,000 | 15,445 | $2,756 |
Web3 Strategy Driving Crypto Investments
Boyaa Interactive cites two primary motivations for its crypto acquisitions:
- Web3 Business Development: Supporting blockchain-based gaming initiatives
- Asset Diversification: Incorporating digital assets into corporate treasury strategy
👉 Learn why forward-thinking companies adopt crypto strategies
Financial Impact on Corporate Earnings
The company's Q2 2024 financial report showed:
- Revenue: ¥105 million (~$14.5 million)
- Year-over-year growth: 5.8%
- Growth Driver: "Digital asset appreciation from cryptocurrency holdings"
Company Background
Founded in 2004 and listed on HKEX in 2013 (0434.HK), Boyaa Interactive specializes in developing online board and card games, including:
- Boyaa Texas Hold'em Poker
- Boyaa Dou Dizhu (Chinese poker)
- Boyaa Chinese Chess
- Boyaa Sichuan Mahjong
FAQ Section
Q: Why would a gaming company invest in cryptocurrency?
A: Many tech firms view crypto as both a strategic Web3 resource and a hedge against inflation, with potential for capital appreciation.
Q: How does cryptocurrency affect Boyaa's financial performance?
A: Crypto holdings introduce volatility - gains can boost earnings, while price drops may negatively impact financials.
Q: What other public companies hold Bitcoin?
A: Zhidu Holdings (000676.SZ) recently confirmed maintaining BTC reserves, among others.
Important Disclaimer: This content represents market analysis only, not investment advice. Cryptocurrency investments carry substantial risk.