Great, Yuxing Technology Buys Dozens Of Bitcoins!

Yuxing Technology buys dozens of Bitcoins. (Photo; Cryptoismist)

JAKARTA - Bitcoin, whose price soared above IDR 1.5 billion, is still the target of a number of large companies. This time, the Hong Kong Yuxing Technology company that attracted digital coins created by Satoshi Nakamoto.

Yuxing Technology as a Hong Kong-based public company officially plunged into the crypto market by buying 78.2 Bitcoins (BTC). Purchases were made in stages in the period between July and December 2024. Yuxing bought Bitcoin at an average price of US$80,960 per BTC or around Rp. 1.3 billion.

For your information, this purchase is financed through the sale of 6.3 million USDT owned by the company. Although the price of Bitcoin is up and down, Yuxing believes in the long-term potential of Bitcoin. Currently, the number one crypto asset is trading in the range of 95,000 US dollars (Rp 1.5 billion), after previously slipping below 93,000 US dollars (Rp1.4 billion) in early 2024.

Not only companies like Yuxing, the Hong Kong government has also begun to show great interest in Bitcoin adoption. Wu Jiexhuang, a member of the Hong Kong Legislative Council, proposed that Bitcoin be included in the region's financial reserves.

He believes that this step will strengthen economic stability and reduce dependence on traditional assets. With the approach of "one country, two systems," Jiexhuang is optimistic that more countries will follow this step if the value of Bitcoin is more stable.

As part of this strategy, the Hong Kong Exchanges and Clearing Limited (HKEX) launched the Virtual Asset Index Series to provide more accurate price benchmarks for Bitcoin and Ethereum. In addition, Hong Kong's financial regulators are processing licenses for a number of large crypto exchanges, including Crypto.com.