#Yu Xing Technology purchases Bitcoin.#
Hot Topic Overview
Overview
Recently, Hong Kong-listed company Yu Xing Technology announced that it sold approximately 6.3 million USDT and purchased 78.2 Bitcoin between July 25 and December 31, 2024, at an average price of $80,960 per Bitcoin. This marks the beginning of Hong Kong-listed companies, besides US institutions, entering the market to buy Bitcoin. Previously, Meitu's massive Bitcoin purchase in 2021 was considered a signal of the bull market coming to an end. Therefore, Yu Xing Technology's move has sparked market attention on the future trend of Bitcoin. Many speculate when mainland companies will join the buying spree, which will become a crucial indicator for judging the direction of the bull market.
Ace Hot Topic Analysis
Analysis
Hong Kong-listed company Yu Xing Technology recently announced that it had sold approximately 6.3 million USDT and purchased 78.2 BTC between July 25, 2024, and December 31, 2024, at an average price of $80,960 per unit, for a total value of approximately $6.3 million. This marks the beginning of Hong Kong-listed companies, in addition to US institutions, entering the market to buy Bitcoin. Some analysts believe that when mainland companies also start buying Bitcoin, such as Meitu in 2021, it could signal the end of the bull market. Currently, Yu Xing Technology's move has sparked market attention on the future trend of Bitcoin, and also made people wonder when mainland companies will join this "digital gold" feast.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, which may signal the arrival of a bull market.
Yu Xing Technology's sale of USDT and purchase of Bitcoin indicates its bullish outlook on the future development of Bitcoin.
Institutional investors' interest in cryptocurrencies is rising, which will drive Bitcoin prices up.
Mainland companies may follow Yu Xing Technology's lead and start buying Bitcoin, further driving the bull market.