#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 indicates that Hong Kong-listed companies, in addition to US institutions, are also starting to buy Bitcoin. Some believe that when mainland companies, such as Meitu in 2021, start buying Bitcoin, 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 move has sparked market attention towards the direction of the cryptocurrency market. Previously, Bitcoin purchases were primarily driven by US institutions, but now Hong Kong-listed companies are entering the market, which is seen as a positive signal. However, some analysts believe that when mainland companies begin to purchase Bitcoin on a large scale, such as Meitu's move in 2021, it may signal the end of the bull market. Currently, the market remains cautious about Yu Xing Technology's move and whether mainland companies will follow suit in the future.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, signaling that the trend of institutional investment in Bitcoin is expanding.
Yu Xing Technology's move may signal the arrival of a Bitcoin bull market, as institutional investor participation is often seen as a key indicator of a bull market.
Yu Xing Technology's sale of USDT and purchase of Bitcoin indicates its bullish outlook on the future value of Bitcoin.
Whether mainland companies will follow suit and buy Bitcoin will be a key focus for future observation. If mainland companies start buying Bitcoin on a large scale, it could further push Bitcoin prices up.