Boyaa Interactive’s Plans for Cryptocurrency Investment

Boyaa Interactive, a gaming company based in Hong Kong, has announced plans to potentially invest in cryptocurrencies, including bitcoin, as part of its asset allocation strategy.

The Board views BTC and crypto acquisition as essential for the company’s business expansion and asset allocation strategy. Boyaa aims to seek shareholders’ approval to authorize a $100 million acquisition mandate for purchasing bitcoin, crypto, and stablecoins within a 12-month period.

Key Parameters of the Proposed Mandate

  1. Mandate Period: The acquisition mandate spans 12 months post the ordinary resolution’s approval at the Extraordinary General Meeting.
  2. Maximum Amount: An aggregate limit of $100 million, with a specific focus on purchasing BTC, ETH, Tether USD (USDT), and USD Coin (USDC).
  3. Types of Cryptocurrencies: Boyaa will mainly focus on acquiring BTC and ETH, aligning with its business strategy.
  4. Acquisition Consideration: Purchases will be based on open market bid and ask prices, with a maximum premium of 10% on the market price.
  5. Authorization Scope: The Board will exercise discretion concerning transaction volume, timing, and cryptocurrency selection, conducting acquisitions on licensed trading platforms like HashKey Exchange.

Following an earlier voluntary announcement in August 2023, the company anticipates dispatching a circular to shareholders by November 30, 2023, detailing the mandate’s specifics and the proposed acquisitions.

Conclusion

Boyaa Interactive’s potential investment in cryptocurrencies, particularly bitcoin and ethereum, represents a significant step as the company looks to enhance its asset allocation strategy for business expansion. With a proposed acquisition mandate of $100 million, the company is set to seek approval from its shareholders and grow its presence in the crypto space, with the aim of providing further value to its shareholders.

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### News source: bitcoinmagazine.com

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