Boyaa Interactive approves $5 million purchase of bitcoin and ether

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."

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.

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