#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 transaction 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, similar to the Meitu incident in 2021, it could signal the end of the bull market.
Ace Hot Topic Analysis
Analysis
Yu Xing Technology recently conducted a series of transactions in the open market, including the sale of approximately 6.3 million USDT and the purchase of 78.2 BTC. These transactions took place between July 25 and December 31, 2024, with an average price of $80,960 per Bitcoin, totaling approximately $6.3 million. Notably, all the USDT sold by Yu Xing Technology was used to purchase an equivalent amount of Bitcoin. This event has sparked market attention towards the future trajectory of Bitcoin. Previously, the Bitcoin buying spree was primarily driven by US institutions, but now Hong Kong-listed companies are entering the scene. Does this signal the end of the bull market? Whether mainland companies will follow suit, like Meitu, and join the Bitcoin buying spree will be a focal point for market observation.
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 growth phase.
The move by Yu Xing Technology could trigger more Hong Kong listed companies to follow suit, further driving the development of the Bitcoin market.
Mainland companies starting to buy Bitcoin could mean that the bull market is coming to an end, but there is no concrete evidence yet.
Yu Xing Technology's trading strategy indicates that they are bullish on the future value of Bitcoin and see it as an investment tool.