Gaming firm Boyaa Interactive announced on Friday that it has exchanged its Ethereum tokens for nearly $50 million worth of Bitcoin as the world's oldest cryptocurrency hovers below the $100,000 mark.
The Hong Kong-based gaming giant earned approximately $49.5 million in Bitcoin this month, exchanging 14,200 Ethereum (ETH) for 515 Bitcoin between November 19-28, the company said in a statement on Friday.
The firm now holds 3,183 BTC worth $310 million as of this writing. This is more than three times the value of Japanese investment company Metaplanet in Bitcoin at approximately $111 million.
According to CoinGecko, at the time of writing, Bitcoin is trading at $97,300 Data It shows.
Boyaya acquired its Ethereum token holdings for $39.45 million, an average price of $2,777 per token, according to a company statement.
This latest acquisition is part of Boya's broader plan to invest into digital assets. Canal last year draw In his statement, he plans to invest up to $100 million, including bitcoin, ethereum and stablecoins.
However, this company is not the only one filling its coffers with Bitcoin. metaplanet –It is often called Japanese micro strategy-He has accumulated about $53 million in Bitcoin since then. It announced its token purchase plan last April. On Thursday, the company announced that it will Raising $62 million in additional Bitcoin investments.
Meanwhile, MicroStrategy—the US software company credited with developing the Bitcoin treasury storage model—announced on Monday. He bought an additional 55,500 BTC Bringing the price to 5.4 billion dollars Holdings to 386,700 Bitcoin. This value is more than 37 billion dollars.
Other large public companies as a Marathon Digital Holdings In recent months, they have joined the Bitcoin giant by adding to their cryptocurrency reserves.
Edited by Andrew Hayward.
GG newspaper
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