Boyaa Interactive, the Hong Kong-listed gaming company, plans to spend up to $70 million acquiring cryptocurrency over the next 12 months, adding to a treasury that already holds more than 4,000 Bitcoin.
Boyaa Approves Up to $70 Million for Crypto Purchases
The company's board of directors recommended seeking shareholder approval to use up to US$70 million in idle cash reserves from business operations for potential cryptocurrency purchases, according to PANews. The authorization covers a 12-month window and requires a formal shareholder vote before any purchases can proceed.
Boyaa stated the move is intended to capitalize on the current cryptocurrency market downturn and expand its Web3 business development. All purchases would be conducted exclusively on regulated trading platforms such as HashKey Exchange, in line with Hong Kong's crypto licensing regime.
The $70 million figure represents a spending ceiling, not a committed outlay. Bitcoin, Ethereum, and stablecoins all appear to be in scope based on the company's existing portfolio composition.
The announcement comes with Bitcoin trading at roughly $68,678, approximately 45.5% below its all-time high of $126,080 set in October 2025. The broader regulatory environment for crypto continues to evolve, with the Fear and Greed Index sitting at 10, deep in "Extreme Fear" territory.
A Treasury Built Over Two Years of Accumulation
This is not Boyaa's first foray into crypto. The company first received shareholder approval for up to $100 million in cryptocurrency purchases back in November 2023, describing the move as "a pivotal move for the Group to path its business layout and development in the field of Web3."
Since then, the company has assembled one of the largest corporate crypto treasuries in Asia. As of the March 2026 announcement, Boyaa holds 4,092 BTC at an average purchase price of roughly $68,200, placing its total Bitcoin cost basis at approximately $279 million.
The company also holds 302 ETH at an average cost of about $1,661 per token and approximately 7,000,700 USDT in stablecoin reserves.
Boyaa's most recent major Bitcoin purchase involved acquiring roughly 411 BTC at an average price of about $115,400 per coin, funded through HK$370 million in placement proceeds. The company also converted 14,200 ETH into approximately 515 BTC in late 2024, a move that earned it the label of Asia's largest corporate Bitcoin holder at the time.
The new $70 million authorization is additive, representing fresh spending power on top of the existing portfolio. For investors tracking stablecoin and digital asset developments, Boyaa's continued accumulation signals sustained institutional conviction even during a prolonged drawdown.
Hong Kong's Corporate Crypto Treasury Trend Gains Momentum
Boyaa's strategy closely mirrors the playbook established by MicroStrategy, the U.S. software firm that pioneered corporate Bitcoin treasury management. The comparison has been made frequently enough that crypto media has dubbed Boyaa the "MicroStrategy of Asia."
The timing is notable. With Bitcoin sitting nearly 46% below its peak and market sentiment at extreme fear levels, Boyaa is explicitly framing the authorization as a dip-buying opportunity rather than simple treasury diversification.
Hong Kong's regulatory posture has been a key enabler. Since 2023, the city has positioned itself as a crypto-friendly jurisdiction, introducing a licensing regime for virtual asset trading platforms. This framework gives listed companies like Boyaa a compliant pathway to hold and trade digital assets through venues like HashKey Exchange.
For a gaming company, the strategy makes structural sense. Cash-rich balance sheets from mobile gaming revenues provide the idle capital, while Web3 business expansion offers a strategic rationale beyond pure speculation. Boyaa's board has consistently linked its crypto purchases to its broader Web3 development ambitions.
The $70 million authorization still requires shareholder approval. If granted, it would bring Boyaa's total cumulative crypto purchase authorizations to well over $200 million since 2023, further cementing its position as one of Asia's most aggressive corporate crypto accumulators. Meanwhile, market participants continue to watch how institutional players navigate the current downturn for signals of where the cycle may be headed.
Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.