Boyaa Interactive International Seeks to Expand Crypto Treasury

Boyaa Interactive International, a Hong Kong-based Web3 gaming firm, plans to expand its crypto treasury by up to $70 million over the next year. The company aims to utilize its idle cash reserves to increase its existing positions and support research and development of its Web3 gaming business.

Expansion Plan Details

The investment will focus on crypto tokens with good market liquidity, large market value, and relatively long-term holding value. This move will add to Boyaa’s existing treasury, which comprises:

• 4,091 Bitcoin (BTC) worth $280 million
• 302 Ether (ETH) worth $621,200

Market Context

The crypto industry is currently experiencing a 45% market drawdown since October, with doubts growing over the sustainability of crypto treasury strategies. Few companies have been buying crypto on a weekly basis, while multiple Bitcoin miners have offloaded portions of their holdings.

Corporate Bitcoin Treasury Ranking

Boyaa is the 23rd-largest corporate Bitcoin treasury and the third-largest in the Asia-Pacific region, according to BitcoinTreasuries.NET. The company made $80.5 million worth of Bitcoin purchases between August and November.