#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 approximately 78.2 Bitcoin at an average price of $80,960 per coin. This is the latest case of a Hong Kong-listed company entering the market to buy Bitcoin after US institutions. Previously, Meitu's massive purchase of Bitcoin in 2021 was seen as a signal that the bull market was coming to an end, so Yu Xing Technology's move has sparked market attention on the future trend of Bitcoin. Many people speculate that when mainland companies start buying Bitcoin may become the next key observation indicator.
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 the proceeds to purchase 78.2 Bitcoin at an average price of $80,960 per coin. 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, such as Meitu in 2021, it could signal the end of the bull market. This suggests that the Bitcoin investment boom is spreading from the US to Asia, and may attract more institutional investors 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 a growing interest in cryptocurrencies from institutional investors.
Yu Xing Technology's move could signal that more Hong Kong listed companies will join the Bitcoin investment ranks in the future.
Mainland companies starting to buy Bitcoin could be a sign that the bull market is coming to an end, similar to Meitu's actions in 2021.
Yu Xing Technology's trading strategy is to convert USDT to Bitcoin, indicating its bullish stance on Bitcoin.