TechFlow News, March 22: Boya Interactive (HKEX: 00434), a Hong Kong-listed company, announced that its Board of Directors has proposed seeking shareholder approval for a purchase authorization to acquire cryptocurrencies using idle cash reserves generated from the company’s operational activities over the next 12 months, with a total value not exceeding USD 70 million. This initiative aims to capitalize on opportunities presented during the current cryptocurrency market downturn by moderately increasing the company’s cryptocurrency holdings and further supporting its Web3 business development.
As of the announcement date, the company holds a total of 4,092 bitcoins, with an average acquisition price of approximately USD 68,200 per bitcoin; 302 ether, with an average acquisition price of approximately USD 1,661 per ether; and approximately 7,000,700 Tether (USDT) tokens. The Board plans to execute these cryptocurrency purchases on regulated trading platforms to ensure market liquidity and security.
