#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 marks the beginning of Bitcoin purchases by Hong Kong-listed companies, aside from US institutions. Some analysts believe that the bull market may be nearing its end as mainland companies, such as Meitu in 2021, begin to buy Bitcoin.
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 value of the transaction was approximately $6.3 million, with all the USDT sold being used to purchase an equivalent amount of Bitcoin. This move indicates that Hong Kong-listed companies, in addition to US institutions, are starting to buy Bitcoin. Some believe that when mainland companies also start buying Bitcoin, such as Meitu in 2021, it could signal the end of the bull market.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, which may signal a new upward trend in the Bitcoin market.
The move by Yu Xing Technology may trigger more Hong Kong listed companies to follow suit, thereby driving the development of the Bitcoin market.
Whether mainland companies will follow Yu Xing Technology's lead and push the Bitcoin market into a new bull market phase is worth watching.
The move by Yu Xing Technology shows that institutional investors' interest in Bitcoin is steadily increasing.