#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 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 between July 25, 2024, and December 31, 2024, and used the proceeds to purchase 78.2 Bitcoin at an average price of $80,960. This move has sparked market attention regarding institutional investors entering the Bitcoin market. Previously, Bitcoin purchases were primarily driven by US institutions, but now Hong Kong-listed companies are also joining, which is seen as a signal of a bullish Bitcoin market. Some analysts believe that when mainland companies start buying Bitcoin on a large scale, similar to the case of Meitu in 2021, it could signal the end of the bull market.
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 trigger other Hong Kong listed companies to follow suit, further driving the development of the Bitcoin market.
Mainland companies may also follow Yu Xing Technology's lead and start buying Bitcoin, which will further drive the development of the Bitcoin market.
Yu Xing Technology's move may signal the end of the Bitcoin bull market, as mainland companies starting to buy Bitcoin is often seen as a sign that the bull market is coming to an end.