Boyaa Interactive Surges on HK Stock Market, Bitcoin Breaks $86,000

Boyaa Interactive (00434) saw a significant surge in its stock price, rising over 4% in the Hong Kong market. As of the latest available data, the company's stock was trading at HK$3.245, with a turnover of HK$5.4275 million. This increase in the stock's value comes after Boyaa Interactive announced its holdings of 4,468 Bitcoins, acquired at an average cost of about $68,543 per coin, as of September 21. The company's Bitcoin holdings are now worth approximately $307 million based on the current market price of Bitcoin.

The cryptocurrency market also saw some activity, with Bitcoin briefly breaking through the $86,000 mark during the day. According to Coinglass data, approximately $136 million in contracts across the network were liquidated, with short positions accounting for $122 million, nearly 90 percent of the total. Citi has raised its 12-month price target for Bitcoin to $113,000, citing ETF capital inflows and an improving macro environment.