#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 coin. This move signifies that Hong Kong-listed companies are starting to buy Bitcoin, previously dominated by US institutions. Some believe that when mainland companies start buying Bitcoin, like Meitu in 2021, it could signal the end of a 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 approximately 78.2 Bitcoin at an average price of $80,960. This move has attracted market attention, as the trend of Bitcoin purchases, previously dominated by US institutions, is now spreading to Hong Kong-listed companies. Some analysts believe that Hong Kong-listed companies entering the market to buy Bitcoin signals that the Bitcoin market may be entering a new phase. However, others point out that if mainland companies also start buying Bitcoin on a large scale, similar to the case of Meitu in 2021, it could signal the end of the Bitcoin bull market. Currently, there are different interpretations and expectations regarding Yu Xing Technology's move and its impact on the future of the Bitcoin market.
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.
The move by Yu Xing Technology may signal that more Hong Kong listed companies will join the ranks of Bitcoin investors in the future.
Mainland companies starting to buy Bitcoin could mean the bull market is coming to an end, but there are no clear signs yet.
Yu Xing Technology's investment strategy is to convert USDT to Bitcoin, indicating its bullishness on Bitcoin.