In a bold move that’s capturing attention across global financial markets, a Hong Kong-listed gaming company has amassed a staggering 2,641 bitcoins—worth over $226 million at current market prices. This strategic accumulation of digital assets is not only reshaping the company’s financial profile but also signaling a growing trend among publicly traded firms embracing cryptocurrency as a core part of their asset allocation strategy.
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Boyaa Interactive: From Online Games to Bitcoin Giant
Founded in 2004, Boyaa Interactive (00434.HK) initially gained fame as a developer of online chess and card games. Listed on the Hong Kong Stock Exchange in 2013, the company once made headlines for attracting nearly 77,000 retail investors during its IPO, freezing HK$86.8 billion in assets—a record that earned it the nickname “asset-freezing king.”
However, its recent transformation has been far more disruptive than its gaming portfolio. Since 2023, Boyaa has aggressively invested in digital assets, positioning itself at the forefront of Web3 innovation. As of the latest disclosures, the company holds:
- 2,641 BTC, with an average acquisition cost of approximately $54,000 per coin
- 15,400 ETH, averaging around $2,756 per ether
- A significant holding in Tether (USDT) as part of its liquidity management
With Bitcoin recently surging past $80,000 and Ethereum climbing above $3,400, Boyaa’s unrealized gains on these holdings exceed $100 million, fueling a dramatic turnaround in its financial performance.
Strategic Asset Allocation Meets Web3 Vision
Boyaa Interactive has publicly stated that its cryptocurrency purchases are “an important step in developing and positioning its Web3 business” and “a crucial component of the Group's asset allocation strategy.” This dual-purpose approach reflects a broader shift in corporate thinking—where digital assets are no longer speculative bets but strategic reserves.
By mid-2024, Boyaa’s digital asset portfolio had grown to RMB 1.688 billion (about $235 million), representing a staggering 75% of total assets and over 90% of current assets. This level of exposure underscores a fundamental reorientation of the company’s financial structure—one that prioritizes long-term value storage and blockchain integration over traditional cash reserves.
The results are already visible in its earnings. In the first half of 2024 alone, Boyaa recorded fair value gains of RMB 245.7 million from its digital assets, accounting for 87% of net profit attributable to shareholders. This surge has helped reverse years of stagnant stock performance, with trading volumes spiking since early 2024 amid renewed investor interest.
👉 See how smart asset allocation can transform company valuations overnight.
The Bitcoin Buying Spree: Timing the Market?
Historical data reveals Boyaa’s disciplined accumulation strategy:
- End of 2023: Held ~1,526 BTC
- Q2 2024: Purchased 885 BTC, bringing holdings to ~2,410 BTC
- November 2024: Total holdings reached 2,641 BTC
Much of this buying occurred when Bitcoin traded between $50,000 and $60,000—positions now deeply profitable as prices flirt with $90,000. However, the pace of purchases has slowed in recent months, likely due to rising prices and increased market volatility.
Analysts suggest this measured approach reflects prudent treasury management. Rather than chasing peaks, Boyaa appears to be averaging in over time—a strategy reminiscent of corporate giants like MicroStrategy, which have turned BTC into a cornerstone of their balance sheets.
A New Dividend Policy for the Digital Age
In March 2025, Boyaa announced a groundbreaking dividend policy that blends traditional profitability with digital asset appreciation:
- Distribute at least 20% of annual net income to shareholders
- Pay at least 5% annually from gains realized on encrypted asset holdings
This innovative model aligns shareholder returns with both operational success and crypto market cycles, offering investors exposure to Bitcoin’s upside without direct ownership.
It also sets a precedent for how traditional companies can evolve in a tokenized economy—blurring the lines between gaming platforms, fintech innovators, and digital treasury managers.
Other Hong Kong-Listed Firms Joining the Crypto Wave
Boyaa isn’t alone. A growing number of Hong Kong-listed companies are allocating capital to cryptocurrencies:
- Inkeverse (03700.HK): Approved a $100 million budget over five years to purchase digital assets on regulated exchanges
- GoFintech Innov (00290.HK): Acquired HK$36 million worth of Bitcoin between March and August 2024
- Linekong (08267.HK): Held 142.85 BTC and 848.39 ETH as of mid-2024, with a total cost basis of ~$8.8 million
- Canaan Inc. (CAN.US): Known as the “first stock of blockchain,” held 1,133.5 BTC as of June 30, 2024
This collective movement suggests that institutional adoption of Bitcoin as a reserve asset is gaining momentum in Asia—one listing at a time.
FAQ: Understanding Corporate Crypto Investments
Q: Why are companies buying Bitcoin instead of holding cash?
A: Many view Bitcoin as “digital gold”—a scarce, decentralized store of value that hedges against inflation and currency devaluation. With limited supply and growing institutional acceptance, BTC offers long-term capital preservation.
Q: Is holding cryptocurrency risky for public companies?
A: While price volatility is a concern, firms like Boyaa mitigate risk through dollar-cost averaging and treating crypto as a long-term treasury asset rather than a short-term trade.
Q: How does crypto exposure affect shareholder value?
A: When managed prudently, digital assets can significantly boost net worth and profitability—especially during bull markets—while diversifying away from traditional financial instruments.
Q: Could regulatory changes impact these investments?
A: Yes. Regulatory clarity in Hong Kong and mainland China remains evolving. However, most companies are using licensed exchanges and complying with disclosure rules to minimize legal exposure.
Q: What is Web3, and how does it relate to Boyaa’s strategy?
A: Web3 refers to the next generation of the internet built on blockchain technology. For gaming companies like Boyaa, it enables true digital ownership, play-to-earn models, and decentralized economies—areas where crypto holdings provide strategic advantage.
Q: Will more traditional companies follow this trend?
A: Increasingly yes. As macroeconomic uncertainty persists and yields on traditional assets remain low, corporate treasuries are exploring alternative stores of value—Bitcoin being among the most prominent.
👉 Learn how forward-thinking companies are future-proofing their finances with crypto.
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Bitcoin investment, cryptocurrency holdings, Web3 strategy, corporate treasury management, digital asset allocation, Hong Kong listed companies, Bitcoin price surge, blockchain innovation
The story of Boyaa Interactive is more than a financial turnaround—it’s a case study in corporate reinvention. By embracing digital assets not as speculation but as strategy, the company has positioned itself at the intersection of gaming, finance, and technological evolution. As Bitcoin continues to gain legitimacy and market momentum, firms like Boyaa may well represent the future of corporate finance in the digital age.