Boyaa Interactive, a Hong Kong-based gaming firm, has swapped its Ethereum (ETH) holdings for approximately $50 million in Bitcoin (BTC), cementing its position as Asia’s largest Bitcoin treasury reserve holder.
Between Nov. 19-28, Boyaa exchanged 14,200 ETH—purchased at an average price of $2,777—for about 515 BTC, according to a company statement. This acquisition brings Boyaa’s total Bitcoin holdings to 3,183 BTC, valued at $310 million at current prices. The firm now holds nearly three times the Bitcoin treasury of Japanese investment firm Metaplanet, which owns BTC worth approximately $111 million.
Bitcoin is trading near $97,300 as of this writing, edging closer to the $100,000 milestone.
Boyaa initially acquired its Ethereum tokens for $39.45 million, turning a significant profit with this conversion to Bitcoin. The move is part of the company’s broader strategy to invest up to $100 million in digital assets, including Bitcoin, Ethereum, and stablecoins, as announced last year.
Boyaa joins a growing list of companies enhancing their Bitcoin reserves. Japan’s Metaplanet has invested $53 million into Bitcoin since April and recently announced plans to raise $62 million for additional purchases. Meanwhile, MicroStrategy—the pioneer of the Bitcoin treasury reserve strategy—revealed it added 55,500 BTC worth $5.4 billion this week, bringing its total holdings to 386,700 BTC, valued at over $37 billion.
This latest move by Boyaa highlights the increasing appeal of Bitcoin as a treasury reserve asset, particularly among firms seeking long-term growth and stability in the digital asset market.
