#Yu Xing Technology purchases Bitcoin.#

Hong Kong-listed company Yu Xing Technology recently announced that it will sell approximately 6.3 million USDT between July 25 and December 31, 2024, and use the proceeds to purchase approximately 78.2 Bitcoin at an average price of $80,960 per coin. This move has attracted market attention, as it was previously mainly US institutions that were buying Bitcoin, and now Hong Kong-listed companies are also entering the market. Some analysts believe that this signals a potential new stage of development for the Bitcoin market, and that mainland companies may also join the buying spree in the future. However, others argue that, similar to Meitu's Bitcoin purchase in 2021, when mainland companies start buying, it could signal the end of the bull market. Currently, there are different opinions in the market regarding Yu Xing Technology's move and the future development trend of the Bitcoin market, which requires further observation and analysis.