Boyaa Interactive, a gaming firm based in Hong Kong, has announced its decision to convert its Ethereum holdings into Bitcoin, purchasing approximately $50 million worth. Between November 19 and 28, the company exchanged 14,200 ETH for about 515 BTC, bringing its total Bitcoin holdings to 3,183, valued at approximately $310 million. This move makes Boyaa the largest Bitcoin treasury reserve holder in Asia, exceeding the holdings of Japanese investment firm Metaplanet. The firm's strategy aligns with its broader investment plan, which includes allocating up to $100 million into cryptocurrencies. Bitcoin is currently trading near $97,300, and this conversion underscores an increasing trend among firms, including MicroStrategy and others, to build substantial Bitcoin reserves in the wake of a surging cryptocurrency market.

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