#Yu Xing Technology purchases Bitcoin.#
Hot Topic Overview
Overview
Hong Kong-listed company Yu Xing Technology recently announced that it sold approximately 6.3 million USDT between July 25 and December 31, 2024, and used the proceeds to purchase 78.2 Bitcoin at an average price of $80,960. This move has attracted market attention, as the trend of Bitcoin purchases, previously dominated by US institutions, is now spreading to Hong Kong-listed companies. Some analysts believe that when mainland companies also start buying Bitcoin, similar to the situation with 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 between July 25 and December 31, 2024, and used all the proceeds to purchase 78.2 Bitcoin at an average price of $80,960. 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 when mainland companies also start buying Bitcoin, it could signal the end of the bull market. This is similar to the situation in 2021 when Meitu, a Chinese company, bought Bitcoin, which was seen as a signal that the bull market was coming to an end. Yu Xing Technology's move may signal a new stage of development for the Bitcoin market, and it could also mean that institutional investors' interest in cryptocurrencies is on the rise.
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 trigger other Hong Kong listed companies to follow suit, driving the development of Bitcoin in the Hong Kong market.
Mainland companies may also follow Yu Xing Technology's lead and buy Bitcoin, which will further drive the development of the Bitcoin market.
Yu Xing Technology's move may signal the end of the Bitcoin bull market, as institutions and listed companies starting to buy Bitcoin is often a sign that the bull market is coming to an end.