Online gaming giant invests 100 million in cryptos

Boyaa Interactive is a Chinese firm listed on the Hong Kong Stock Exchange. Its specialty covers the online card and board games sector, of which it is, moreover, the undisputed leader. Obviously, Boyaa Interactive is attracted by the potential of cryptos like bitcoin (BTC) and ether (ETH), of which it wants to acquire significant quantities..

Crypto investment of $100 million over one year planned

Boyaa Interactive, the Chinese leader in the board and card games sector, plans to inject the tidy sum of $100 million to acquire cryptos. The information that leaked this Tuesday, November 14 indicates that the company has requested the approval of its shareholders to this effect.

If they give the green light, Boyaa Interactive intends to use this capital to acquire leading cryptos such as bitcoin (BTC) and ether (ETH). Two cryptos which, by the way, are particularly dynamic at the moment.

Concerning Boyaa Interactive’s project to offer cryptos, a detail must be noted. The planned investment, even if authorized by the shareholders, should not be made immediately, but in a gradual manner, over a period of 12 months.

Overall, this development is part of a dynamic that is gaining momentum. That consisting of companies considering exposure to cryptos. Proof of the resilience of the crypto sector despite the waves of setbacks that affected it last year.

Chinese gaming giant Boyaa Interactive plans to invest heavily in bitcoin and ether

A clear and defined crypto investment plan?

While waiting for the board of directors of Boyaa Interactive to decide on the relevance or otherwise of this initiative, the company has clarified its investment plan. Once approved, the firm will offer BTC and ETH first.

It plans to dedicate a cumulative amount of $45 million to these cryptos. At the same time, Boyaa Interactive plans to acquire stablecoins. The company is particularly interested in Tether (USDT) and USD Coin (USDC).

In turn, these stablecoins should be allocated a portfolio of $5 million. As for the remaining 50 million investments, details have not yet filtered out regarding the cryptos in which they will be invested. It must be said that in any case, the proposed investment plan far exceeds the crypto financing initially planned by Boyaa Interactive. In August, the company’s stakeholders were supportive of a $5 million crypto investment. The reversal from the initial plan is potentially linked to the explosion in crypto prices in recent weeks.

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