Asia’s Corporate Giants Bolster Bitcoin Holdings Amid Bullish Trends
by aria-crypto.com
November 29, 2024 at 21:49
Asia’s Corporate Giants Bolster Bitcoin Holdings Amid Bullish Trends
Boyaa Interactive, a Hong-Kong-based gaming firm, recently converted $50 million of its Ethereum assets into Bitcoin, lifting its Bitcoin holdings to 3,183 BTC valued at about $310 million. This strategic move comes as Bitcoin nears the $100,000 price mark, trading at approximately $97,300. Last year, Boyaa announced a plan to invest up to $100 million in various cryptocurrencies. Similarly, Metaplanet and MicroStrategy have substantial Bitcoin investments, with MicroStrategy owning 386,700 BTC, reflecting a market value over $37 billion. Furthermore, recent activities in the Ethereum market signaled strong investor sentiment, with significant inflows into Ethereum ETFs surpassing those into Bitcoin ETFs. Over the last four days, Ethereum ETFs saw inflows of $224.9 million against $35.2 million for Bitcoin, driven by a 6% price surge in Ethereum. BlackRock's ETHA led this influx with notable contributions on specific days. Ethereum's favorable market movements are part of a larger trend where it mimics Bitcoin's past market trajectories, potentially setting it on course for record highs and an influential market presence.
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