Boyaa Interactive International, a Hong Kong-based Web3 gaming company, is seeking shareholder approval to expand its cryptocurrency holdings by up to $70 million over the next twelve months. The firm announced the plan on Sunday, stating its intention to deploy idle cash reserves during periods of market weakness. The move is aimed at growing its existing crypto positions while also supporting the research and development of its Web3 gaming operations.
If shareholders grant approval, Boyaa says it will target digital assets with strong market liquidity, large market capitalisation, broad recognition, and long-term holding potential. The planned $70 million in purchases would be added to a treasury already valued at nearly $3 billion. That existing reserve includes 4,091 Bitcoin worth approximately $2.8 billion and 302 Ether valued at around $621,200.
The announcement arrives at a challenging moment for the broader crypto industry, which has experienced a roughly 45% market drawdown since October. Confidence in corporate crypto treasury strategies has also come under scrutiny during this period. Despite the difficult environment, Boyaa appears committed to treating market dips as buying opportunities rather than reasons to reduce exposure.
Among companies actively accumulating crypto in recent months, few have maintained consistent purchasing activity outside of Strategy and Bitmine Immersion Technologies. In contrast, several Bitcoin miners have been selling portions of their holdings. Boyaa itself spent $80.5 million on Bitcoin acquisitions between August and November, cementing its position as the 23rd-largest corporate Bitcoin treasury globally and the third-largest in the Asia-Pacific region, behind Japan’s Metaplanet and China’s Next Technology Holding.
Boyaa originally built its business around online card and board games before pivoting to Web3 gaming in late 2023. As part of that transition, the company began developing blockchain-based games and supporting infrastructure. It made its first Bitcoin purchase in January 2024 to help fund and underpin that strategic shift.
Among its current product offerings is a Web3 adaptation of a Texas Hold’em online poker platform the company originally developed in the early 2000s. The updated version incorporates Bitcoin rewards and crypto prizes for players. The platform reflects Boyaa’s broader effort to integrate cryptocurrency incentives directly into its gaming ecosystem as it continues to evolve its business model.
Originally reported by CoinTelegraph.
