Boyaa Proposes $70M Crypto Investment Plan

Boyaa Interactive International, a Hong Kong-listed gaming company, has proposed investing up to $70 million in cryptocurrencies over the next 12 months, pending shareholder approval. The plan, announced this week, aims to expand the firm's digital asset reserves during a market downturn and support its shift toward Web3 gaming platforms.

The proposal would use the company's idle cash to acquire assets with high liquidity, large market capitalization, and long-term holding value, primarily Bitcoin and Ethereum. Boyaa's management emphasized deploying funds during periods of market weakness to accumulate at lower prices, a strategy known as dollar-cost averaging. Shareholders will vote on the authorization, which also allocates a portion of the funds to research and development for blockchain-integrated gaming products.

Boyaa already holds significant cryptocurrency reserves, including 4,091 Bitcoin valued at approximately $280 million and 302 Ethereum worth more than $600,000. These positions, built steadily throughout 2024, make the company the 23rd-largest corporate Bitcoin holder globally and the third-largest in the Asia-Pacific region, behind Japan's Metaplanet and China's...