Web3 firm Boyaa targets $70M crypto expansion amid dip

Boyaa Interactive International, a Hong Kong-listed Web3 gaming firm, plans to expand its crypto treasury with up to $70 million in new purchases. The company will seek shareholder approval for the move, which comes as firms reassess crypto treasury strategies during a market downturn.

Boyaa stated that it intends to deploy up to $70 million over the next year to grow its crypto holdings. The company said it aims to use “idle cash reserves during periods of weakness in the cryptocurrency market” to increase exposure. This approach focuses on buying during market dips rather than chasing rising prices.

The firm added that it will target assets with “good market liquidity, large market value, wide recognition on the market and relatively long-term holding value.” This suggests a preference for established cryptocurrencies such as Bitcoin and Ether rather than smaller tokens.

Boyaa already holds a large crypto treasury valued at nearly $285 million. This includes 4,091 Bitcoin worth around $280 million and 302 Ether valued at over $600,000. These holdings place the company among the top corporate Bitcoin holders globally.

The company began building its crypto position in 2024 as part of its transition into Web3 gaming. It invested $80.5 million in Bitcoin between August and November, showing a steady accumulation strategy tied to its long-term business plans.

In addition, Boyaa currently ranks as the 23rd-largest corporate Bitcoin treasury holder. It is also the third-largest in the Asia-Pacific region, behind Japan’s Metaplanet and China’s Next Technology Holding. This position reflects its growing role in the region’s digital asset space.

The expansion plan comes at a time when fewer companies are actively increasing crypto reserves. Some Bitcoin miners and firms have reduced holdings in recent months, reflecting caution across the market.

Market conditions and Web3 focus

The broader crypto market has declined by about 45% since October, creating a more cautious environment for treasury strategies. Boyaa’s plan to buy during weaker market conditions reflects a different approach compared to companies reducing exposure.

The firm continues to build its Web3 gaming ecosystem alongside its crypto investments. It has developed blockchain-based gaming products, including a Web3 version of its earlier Texas Hold’em platform that offers crypto rewards.