Boyaa Interactive Declared Asia’s Largest Corporate Bitcoin Holder

Boyaa Interactive, a prominent gaming company based in China, has claimed the title of the largest corporate Bitcoin holder in Asia, overtaking Japan’s Metaplanet.

This development comes after Boyaa Interactive’s announcement on November 29 regarding its decision to convert $49.48 million worth of Ethereum (ETH) into Bitcoin (BTC). Between November 19, 2024, and November 28, 2024, the company converted 14,200 ETH into approximately 515 BTC.

A regulatory filing confirmed that the $49.48 million in Ether was converted on the open market.

Originally, Boyaa Interactive purchased the ETH for $39.45 million at an average price of $2,777 per coin. Following the sale of these 14,200 ETH, the company’s total Bitcoin holdings have increased to about 3,183 BTC, with an average purchase price of $57,754 per Bitcoin.

This tactical decision elevates Boyaa Interactive above Metaplanet, the former largest corporate Bitcoin holder in Asia. Metaplanet, a Japanese investment firm, currently holds 1,018 Bitcoins valued at over $67 million. Conversely, Boyaa’s Bitcoin holdings are now valued at more than $312 million.

In November 2023, Boyaa launched its cryptocurrency treasury strategy, aiming to invest up to $100 million in BTC, ETH, and various other digital assets. Meanwhile, Metaplanet has established itself as a proactive Bitcoin buyer, earning the nickname “Asia’s MicroStrategy.”

On November 29, Metaplanet also revealed its plans to secure an additional $62 million to further expand its Bitcoin purchases.

In recent times, multiple companies have attempted to replicate MicroStrategy’s Bitcoin strategy, including Thumzup and Rumble, with the trend gaining traction as Bitcoin edges closer to the $100,000 mark.