Chinese Game Firm Sees Stock Rise 810% After Adopting BTC as Reserve Asset

The wave of adopting bitcoin (BTC) as a treasury reserve asset gaining traction within the traditional finance space is paying off big time, especially among public companies.

The American business intelligence firm MicroStrategy set the pace four years ago—its stock MSTR has performed remarkably well since then—and now, other companies in different countries and regions that joined the bandwagon are seeing similar results.

Such is the case of Boyaa Interactive, a Chinese online card and board game developer whose stock, 0434, has climbed to as much as 810% since the beginning of this year.

Boyaa Dives Into Bitcoin Acquisition

Boyaa began acquiring cryptocurrencies, mainly BTC and ether (ETH), in November 2023, following an announcement of the acquisition mandate in August of that same year. The company and its Board of Directors see BTC and crypto acquisition as crucial to their business expansion and asset allocation strategy.

That same month, Boyaa revealed plans to buy cryptocurrencies worth $100 million within 12 months. The company planned to use $45 million for each BTC and ETH purchase, while the remaining $10 million would go to buying Tether (USDT), USD Coin (USDC), and other stablecoins pegged to the U.S. dollar.

Chinese and Hong Kong investors looking to gain exposure to BTC without directly owning the asset have turned to Boyaa’s stock, just like American stock investors are using MSTR as a proxy for BTC. This influx of capital to 0434 has further been driven by bitcoin’s impressive ascent this year—hitting a record high in March before halving and exploding above $99,000 since Donald Trump won the U.S. presidential race earlier this month.

Boyaa’s Stock Up 810%

Within the last 12 months, Boyaa has acquired 2,688 BTC at an average of $54,022 per coin and over 15,388 ETH at roughly $2,756 per asset. The company sits on unrealized profits amounting to $120 million.

At the time of writing, Boyaa’s stock was changing hands at HK$5.19 ($0.67) on the Hong Kong Exchange, up 23.57% daily, per data from TradingView. The asset was worth HK$0.56 ($0.072) at the beginning of the year; however, its current value reflects an 810% increase year-to-date.

Boyaa’s growth has caused the stock to beat all companies in major indexes that track Hong Kong markets, including the Chinese shopping platform Meituan and the jewelry store chain Laopu Gold, which have the best-performing stocks in the Hang Seng Indexes.

Meanwhile, Boyaa is considering increasing its BTC investments by raising additional funds in the secondary market.