Boyaa Interactive approves $5 million purchase of bitcoin and ether

Companies • August 11, 2023, 5:28AM EDT

Published 1 minute earlier on

Quick Take

Boyaa Interactive approved a budget of $5 million to purchase cryptocurrencies — primarily bitcoin and ether.

Boyaa Interactive International Limited has informed shareholders and potential investors that its board of directors has approved a budget of $5 million to purchase cryptocurrencies.

The company said it would "mainly" purchase bitcoin and ether on regulated and licensed trading platforms "in the coming year."

"The purchases of cryptocurrencies are for the consideration of the Group’s future business layout into the field of Web3," Boyaa said in a letter. "The Board is of the view that the purchases of cryptocurrencies (including mainly Bitcoin (BTC) and Ether (ETH)) by the Group are in the interests of the Company and its shareholders as a whole."

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Founded in 2004, Boyaa Interactive is a Hong Kong-based investment holding company. It claims to be a leading developer and operator of online chess, card and puzzle games in China.

About Author

Adam is the managing editor for Europe, the Middle East and Africa. He is based in central Europe and was a managing editor and podcast host at the crypto exchange OKX's former research arm, OKX Insights. Before that, he co-founded BeInCrypto.com, which he elevated into one of the leading crypto media brands at its peak as the editor-in-chief. Earlier, he served as the editor-in-chief at Bitcoinist.com. Before joining the blockchain and crypto industry, he worked for Looper.com, Grunge.com and SVG.com. He tweets via @XBT002 and can be emailed at [email protected].