#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 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 indicates that Hong Kong-listed companies, in addition to US institutions, are also starting to buy Bitcoin. Some analysts believe that if mainland companies also start buying Bitcoin, such as 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 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 market to purchase Bitcoin. Previously, Meitu's purchase in 2021 was considered a signal of the bull market coming to an end. Therefore, Yu Xing Technology's move has sparked speculation about the future trend of Bitcoin, with many believing that the bull market may be nearing its end as mainland companies begin to buy Bitcoin. However, there is currently no concrete evidence to suggest that mainland companies will begin to purchase Bitcoin on a large scale, so this view should be treated with caution.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Yu Xing Technology's purchase of Bitcoin indicates that Hong Kong listed companies are starting to invest in cryptocurrencies.
Yu Xing Technology's sale of USDT and purchase of Bitcoin may signal a new upward trend in the cryptocurrency market.
Yu Xing Technology's move could trigger more Hong Kong listed companies to follow suit, thereby driving the development of the cryptocurrency market.
When mainland companies also start buying Bitcoin on a large scale, it may signal the end of the bull market.