The company said that the decision is in line with the company’s strategic focus on integrating Web3 technology into the gaming business. Among the cryptocurrencies that Boyaa Interactive is interested in are Bitcoin, Ethereum, as well as stablecoins USDT and USDC.
The company announced that it considers Bitcoin and Ethereum to be “titans of the crypto space that offer a high degree of recognition and liquidity.” They have the most compelling arguments for long-term investment, desktop manufacturers explain. On the other hand, stablecoins can provide some stability in a notoriously volatile market.
Boyaa Interactive clarified that the company will invest $45 million each in Bitcoin and Ethereum. And $10 million is intended for the purchase of stablecoins.
Recently, one of the largest holders of Bitcoin, software developer MicroStrategy, bought another 155 BTC worth $5.3 million. Company representatives are optimistic about the first cryptocurrency.
The day before, the issuer of the USDT stablecoin, Tether, reported for the third quarter of the year on accumulated reserves. According to the report, the financial giant’s excess reserves amounted to $3.2 billion.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
