This Company Changes Crypto Porto From Ether To Bitcoin
JAKARTA - Boyaa Interactive International, a Hong Kong company engaged in the online gaming industry, has just announced a strategic change in their crypto portfolio. On November 29, 2024, the company revealed that it had converted 14,200 Ether (ETH) worth more than 49 million US dollars (Rp774 billion) to around 515 Bitcoins (BTC).
This step was taken after the conversion period which took place between 19 and 28 November 2024. With this addition, Boyaa Interactive now has a total of 3,183 Bitcoins, which are currently worth around US$310.7 million (Rp4.9 trillion).
This decision is part of the company's long-term strategy to enlarge their Bitcoin reserves. The board of directors of Boyaa Interactive stated that the purchase and expansion of Bitcoin reserves is one of the important steps in the company's development plans.
"We believe it is the right time to convert part of Ether into Bitcoin, given Bitcoin's positive prospects in the future," the company said in their official statement.
In the third quarter of 2024, Boyaa Interactive recorded ownership of 2,635 Bitcoins and 15,388 Ethers in their treasury portfolio. On the other hand, the price of Bitcoin in the last two weeks rose more than 6%, while Ether recorded a higher spike, reaching 18.3%.
Boyaa Interactive's move to convert Ether to Bitcoin shows that the company increasingly trusts Bitcoin as a more stable and profitable long-term digital asset. The decision also reflects optimism for Bitcoin's growing role in the global market, especially among major companies that are starting to adopt crypto assets as part of their reserves.
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