#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 Bitcoin between July 25, 2024, and December 31, 2024, at an average price of $80,960 per Bitcoin. This transaction marks the beginning of Hong Kong-listed companies, besides US institutions, entering the market to buy Bitcoin. Some analysts believe that when mainland companies also start buying Bitcoin, similar to the situation with Meitu in 2021, it may signal the end 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 indicates that Hong Kong-listed companies are starting to buy Bitcoin, previously a practice primarily undertaken by US institutions. Some believe that when mainland companies begin buying Bitcoin, such as Meitu in 2021, it could signal the end of a bull market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, signaling that the Bitcoin market may be entering a new stage of development.
Yu Xing Technology's move could lead to more Hong Kong listed companies paying attention to Bitcoin, thereby driving the development of the Bitcoin market.
Yu Xing Technology's purchase behavior may signal the end of the Bitcoin bull market, as mainland companies may also start buying Bitcoin.
Yu Xing Technology's purchase behavior may be related to the recent rise in Bitcoin prices, and the company may be hoping to profit from the rise in Bitcoin prices.