According to a previous report by Zombit, Hong Kong game development company “Boya Interactive” had previously purchased cryptocurrencies such as Bitcoin and Ethereum with a total allocation of $100 million, with the approval of shareholders. According to an official announcement, the company has purchased a total of 1,110 Bitcoins at an average price of approximately $41,790 (with a floating profit of 62%) and 14,855 Ethereums at an average price of approximately $2,777 (with a floating profit of 42.8%). In addition, they also hold approximately 8 million USDT with a cumulative floating profit of about $30 million.
According to the company’s latest announcement, in order to further promote the group’s business development and layout in the Web3 field, the board of directors has sought shareholder approval at the general meeting to grant further authorization for the purchase of potential cryptocurrencies. The authorization allows the board of directors to continue purchasing cryptocurrencies with a total amount not exceeding $100 million, in order to complete the reserve of digital assets at a more favorable time. The authorization period starts from the date of the ordinary resolution passed at the annual general meeting regarding the potential purchase of cryptocurrencies and lasts for 12 months.
This authorization will further increase Boya Interactive’s cryptocurrency purchasing limit to $200 million, accounting for approximately 73.45% of the group’s total assets at the end of last year and approximately 79.34% of its current assets. The group emphasizes that even with the authorized total amount, they still have approximately 369 million RMB in liquid assets, and the annual operating revenue from traditional business is sufficient to support daily operational expenses and generate profits.
