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Hong Kong Gaming Giant Boyaa Interactive Shareholders to Vote on $100M Crypto Purchase Plan

Boyaa Interactive International Limited, a company listed on the Hong Kong stock exchange, has slated a special general meeting of shareholders for December 20 to decide on a $100 million cryptocurrency purchase plan.

The company’s directors, including independent non-executive directors, have conveyed their confidence in the fairness and reasonableness of the proposed purchase authorization terms for potential cryptocurrency acquisitions. They assert that these terms align with standard commercial practices. The meeting will serve as a pivotal moment for shareholders to weigh in on the company’s significant crypto investment strategy.

Boyaa Interactive Plans to Buy $90 Million of BTC and ETH

Boyaa Interactive had previously proposed a comprehensive crypto investment plan, intending to allocate $45 million each for Bitcoin (BTC) and Ethereum (ETH) within the next 12 months. Additionally, the company plans to earmark $10 million for Tether (USDT) and USD Coin (USDC).

This strategic move to diversify into cryptocurrencies aligns with a broader trend where traditional companies are acknowledging the value and potential of digital assets. The upcoming special general meeting of shareholders on December 20 will play a crucial role in determining the company’s trajectory into the dynamic and evolving cryptocurrency market.

As Boyaa Interactive positions itself for a significant crypto investment, shareholders will have the opportunity to voice their opinions on the proposal. The decision-making process will involve careful consideration of the potential risks and rewards associated with entering the volatile cryptocurrency landscape.

The results of the upcoming vote on Boyaa Interactive’s crypto purchase plan will not only influence the company’s financial strategy but could also indicate an increasing acceptance of cryptocurrencies within traditional corporate frameworks.

Previously, on August 11, the Hong Kong-listed company had revealed that its board of directors had approved a $5 million budget for acquiring cryptocurrencies over the next year. This budget allowed the group to make purchases on regulated and licensed trading platforms. The funding for these crypto acquisitions is derived from the cash reserves generated by the group’s operations, extending across both Hong Kong and overseas. The company’s moves reflect a notable shift in traditional corporate approaches toward embracing and incorporating cryptocurrencies into their financial strategies.

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Cryptocurrency is essentially virtual money that operates in a decentralized manner, not through a bank but directly on multiple independent computers.

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