Boyaa Interactive Recognized as Asia’s Largest Corporate Bitcoin Holder

Boyaa Interactive, a leading gaming entity from China, has established itself as the top corporate holder of Bitcoin in Asia, surpassing Japan’s Metaplanet.

This transition follows Boyaa Interactive’s recent decision to convert $49.48 million in Ethereum (ETH) into Bitcoin (BTC), as revealed on November 29. The conversion of 14,200 ETH to approximately 515 BTC took place between November 19, 2024, and November 28, 2024, according to the company’s announcement.

A filing confirmed that the $49.48 million Ether-to-Bitcoin conversion was executed on the open market.

Boyaa Interactive originally purchased the ETH for $39.45 million at an average price of $2,777 per coin. With the sale of these 14,200 ETH, the company’s total Bitcoin holdings have risen to roughly 3,183 BTC, with an average acquisition cost of $57,754 per Bitcoin.

This strategic move positions Boyaa Interactive above Metaplanet, which was the prior largest corporate Bitcoin holder in Asia. Metaplanet, a Japanese investment firm, holds a total of 1,018 Bitcoins valued at more than $67 million. In contrast, Boyaa’s current Bitcoin holdings are valued at over $312 million.

In November 2023, Boyaa initiated its cryptocurrency treasury strategy, outlining an intention to invest up to $100 million in BTC, ETH, and other digital assets. Meanwhile, Metaplanet has positioned itself as an assertive buyer of Bitcoin, earning the moniker “Asia’s MicroStrategy.”

On November 29, Metaplanet also announced its plans to secure $62 million to increase its Bitcoin acquisitions.

In recent months, several firms have sought to emulate MicroStrategy’s Bitcoin strategy, including Thumzup and Rumble, with the trend gaining momentum as Bitcoin approaches the $100,000 mark.