#Yu Xing Technology purchases Bitcoin.#
Hot Topic Overview
Overview
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 Bitcoin. This marks the beginning of Hong Kong-listed companies, in addition to US institutions, entering the market to buy Bitcoin. Some believe that when mainland companies start buying Bitcoin, such as Meitu in 2021, it could signal the end of the bull market.
Ace Hot Topic Analysis
Analysis
Hong Kong-listed company Yu Xing Technology recently announced that it sold approximately 6.3 million USDT and purchased 78.2 Bitcoin between July 25, 2024, and December 31, 2024, at an average price of $80,960 per Bitcoin. The total amount of the transaction was approximately $6.3 million. It is worth noting that all the USDT sold by Yu Xing Technology was used to purchase Bitcoin. This move indicates that Hong Kong-listed companies, in addition to US institutions, are also starting to enter the market to buy Bitcoin. Some analysts believe that when mainland companies start buying Bitcoin, such as the case of Meitu in 2021, it may signal the end of a bull market. Currently, the market is taking a wait-and-see attitude towards Yu Xing Technology's move, and the future price trend of Bitcoin remains to be seen.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, indicating that institutional investor interest in cryptocurrencies is increasing.
Yu Xing Technology's move could signal that more Hong Kong listed companies will join the ranks of Bitcoin investors in the future.
Mainland companies starting to buy Bitcoin could be a sign that the bull market is coming to an end, similar to the Meitu event in 2021.
Yu Xing Technology's trading strategy is to convert USDT to Bitcoin, indicating that it is bullish on the future value of Bitcoin.