Hong Kong-listed company Boyaa Interactive (00434) has announced that its board of directors has approved a budget of $5 million (approximately HKD 39.98 million) for the purchase of cryptocurrencies on regulated and licensed trading platforms over the next year. The main cryptocurrencies to be purchased include Bitcoin (BTC) and Ethereum (ETH).
Boyaa Interactive stated that the funds for the cryptocurrency purchases will come from the cash reserves generated by the group's operations in Hong Kong and overseas. The group will make decisions on cryptocurrency purchases based on market conditions.
The company also mentioned that the purchase of these cryptocurrencies is aimed at considering the group's future business layout in the Web3 field. The company operates the development and operation of chess and card games, including game products such as "Texas Hold'em," "Landlord," "Mahjong," "Chess," and "Bug Attack Team."
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