#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 and purchased 78.2 Bitcoin between July 25 and December 31, 2024, at an average price of $80,960 per Bitcoin. This move signifies that Hong Kong-listed companies are starting to enter the Bitcoin market, previously dominated by US institutions. Some analysts believe that when mainland companies begin to purchase Bitcoin on a large scale, similar to 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. This marks the beginning of Hong Kong-listed companies, besides US institutions, entering the Bitcoin market. Previously, Meitu's Bitcoin purchase in 2021 was considered a signal of the bull market coming to an end. Therefore, some analysts believe that Yu Xing Technology's move may signal a new upward cycle for the Bitcoin market. However, some analysts remain cautious, arguing that there are still many uncertainties in the market, such as regulatory policies and the macroeconomic environment, which could affect Bitcoin prices. Therefore, investors should remain rational and invest cautiously when investing in Bitcoin, avoiding blindly chasing rallies and selling on dips.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, signaling a growing interest in cryptocurrencies from institutional investors.
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 mean the bull market is coming to an end, similar to Meitu's move in 2021.
Yu Xing Technology's investment strategy is to convert USDT to Bitcoin, indicating its long-term bullishness on Bitcoin.