Boyaa Interactive Boosts Bitcoin Holdings with $11.56 Million Purchase
Boyaa Interactive, a Hong Kong-listed online gaming company, has acquired an additional 152 BTC to its corporate treasury. The purchase cost approximately HK$90.63 million, or around $11.56 million at an average price of $75,899 per coin.
This is not the first time Boyaa Interactive has bought Bitcoin; it has been steadily accumulating the cryptocurrency since late June and early September, picking up roughly 205 BTC before this latest tranche. The company's total holdings now stand at 4,468 BTC, acquired at an average cost of $68,543 per Bitcoin.
The funding source for these purchases is 'idle cash reserves,' operational capital that was otherwise sitting around doing nothing. Boyaa Interactive is not taking on debt or engaging in complex financial engineering to fund its Bitcoin buys.