Boyaa Interactive Seeks Shareholder Approval for $70M Crypto Treasury Expansion
Hong Kong-listed Web3 gaming firm Boyaa Interactive International is seeking shareholder approval to invest up to $70 million in crypto assets over the next 12 months. The company plans to deploy its idle cash reserves during periods of market weakness, with a focus on tokens that offer strong market liquidity and long-term holding value.
The proposed investment would expand Boyaa's existing crypto treasury, which currently holds approximately $280 million worth of Bitcoin and $621,200 in Ethereum. The company ranks as the 23rd-largest corporate Bitcoin treasury globally and third-largest in the Asia-Pacific region.
Boyaa made its first Bitcoin purchase in January 2024 as part of its transition into the Web3 space. The firm currently offers a blockchain version of its Texas Hold'em poker platform, which distributes Bitcoin rewards and crypto prizes to players.