#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 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 and purchased 78.2 Bitcoin between July 25 and December 31, 2024, at an average price of $80,960 per Bitcoin. The total value of the transaction was approximately $6.3 million, with all the USDT sold being used to purchase Bitcoin. This indicates that, in addition to US institutions, Hong Kong-listed companies are also starting to buy Bitcoin, which some interpret as a signal that the bull market is coming to an end. Previously, Meitu's Bitcoin purchase in 2021 was considered a sign of the end of the bull market. Currently, the market generally believes that when mainland companies start buying Bitcoin will be a key indicator of the direction 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 trend of institutional investment in Bitcoin is expanding.
Yu Xing Technology's move may signal the end of the bull market, as mainland companies may also start buying Bitcoin.
Yu Xing Technology bought Bitcoin by selling USDT, indicating its bullish outlook on the future value of Bitcoin.
Yu Xing Technology's investment behavior may trigger other Hong Kong listed companies to follow suit, driving further development of the Bitcoin market.