Boyaa Interactive Named Asia’s Largest Corporate Holder of Bitcoin

Boyaa Interactive, a leading gaming firm from China, has now secured its place as the largest corporate Bitcoin holder in Asia, surpassing Japan’s Metaplanet.

This milestone follows Boyaa Interactive’s announcement on November 29, in which they revealed their choice to convert $49.48 million worth of Ethereum (ETH) into Bitcoin (BTC). Between November 19, 2024, and November 28, 2024, the company swapped 14,200 ETH for roughly 515 BTC.

A regulatory report confirmed that the $49.48 million in Ether was converted through the open market.

Initially, Boyaa Interactive acquired the ETH for $39.45 million at an average rate of $2,777 per coin. After selling these 14,200 ETH, the company’s Bitcoin holdings have risen to approximately 3,183 BTC, with an average purchase price of $57,754 per Bitcoin.

This strategic move positions Boyaa Interactive ahead of Metaplanet, previously the largest corporate Bitcoin holder in Asia. Metaplanet, a Japanese investment company, now possesses 1,018 Bitcoins, valued at over $67 million. In contrast, Boyaa’s Bitcoin assets are now estimated to be worth over $312 million.

In November 2023, Boyaa initiated its cryptocurrency treasury strategy, with plans to invest up to $100 million in BTC, ETH, and various other digital currencies. Meanwhile, Metaplanet has positioned itself as an active Bitcoin purchaser, earning the title of “Asia’s MicroStrategy.”

On November 29, Metaplanet also announced its intention to raise an additional $62 million to further enhance its Bitcoin acquisitions.

Recently, numerous companies have sought to emulate MicroStrategy’s Bitcoin strategy, including Thumzup and Rumble, as the trend gains momentum with Bitcoin inching closer to the $100,000 threshold.