#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 78.2 Bitcoin at an average price of $80,960. This marks the beginning of Hong Kong-listed companies, in addition to US institutions, entering the market to buy Bitcoin. Some analysts believe that when mainland companies, such as Meitu in 2021, start buying Bitcoin, 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 between July 25 and December 31, 2024, and used all the proceeds to purchase 78.2 Bitcoin at an average price of $80,960 per coin. This move has attracted market attention, as the Bitcoin buying spree, previously dominated by US institutions, is now spreading to Hong Kong-listed companies. Some analysts believe that the entry of Hong Kong-listed companies into the Bitcoin market signals the potential end of the Bitcoin bull market. If mainland companies also start buying Bitcoin on a large scale in the future, similar to the case of Meitu in 2021, the Bitcoin bull market may officially end.
Public Sentiment · Discussion Word Cloud
Public Sentiment
Discussion Word Cloud
Classic Views
Hong Kong listed companies are starting to buy Bitcoin, signaling that the Bitcoin market may be entering a new stage of development.
Yu Xing Technology's move could lead more Hong Kong listed companies to pay attention to Bitcoin, thereby driving the development of the Bitcoin market.
Yu Xing Technology's purchase behavior may be related to the recent Bitcoin price trend, reflecting the market's expectations for the future Bitcoin price.
When mainland companies start buying Bitcoin on a large scale, it may mean that the Bitcoin bull market is about to end.