#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 move indicates that Hong Kong-listed companies, in addition to US institutions, are also starting to buy Bitcoin. Some 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 and purchased 78.2 Bitcoin between July 25 and December 31, 2024, at an average price of $80,960 per Bitcoin. This means that Yu Xing Technology has shifted some of its funds from the stablecoin USDT to Bitcoin, which is seen as a signal that the company is bullish on Bitcoin's future prospects. Previously, the Bitcoin buying spree was mainly driven by US institutions, but now Hong Kong-listed companies are joining in, sparking speculation about whether mainland companies will follow suit. Some believe that if mainland companies also start buying Bitcoin in large quantities, similar to the case of Meitu in 2021, it could signal the end of the Bitcoin 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, driving further development of the Bitcoin market.
Mainland companies starting to buy Bitcoin could signal the end of the bull market, but there are no clear signs yet.
Yu Xing Technology's investment strategy may be related to market expectations for the future price of Bitcoin, but the specific reasons are unclear.