{"id":93845,"date":"2026-05-20T15:46:32","date_gmt":"2026-05-20T15:46:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=93845"},"modified":"2026-05-20T15:46:32","modified_gmt":"2026-05-20T15:46:32","slug":"boyaa-interactives-bitcoinization-strategy-faces-web3-reality-check","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=93845","title":{"rendered":"Boyaa Interactive&#8217;s &#8216;Bitcoinization&#8217; Strategy Faces Web3 Reality Check"},"content":{"rendered":"<div>\n<p><em>Once known for its Texas Hold&#8217;em games, the company is repositioning itself as a Hong Kong-listed bitcoin play through its push into Web3 gaming<\/em><\/p>\n<p><figure class=\"wp-block-image size-large\"><img decoding=\"async\" src=\"https:\/\/contributor-assets.benzinga.com\/wp-content\/uploads\/2026\/05\/20051601\/%E5%B1%8F%E5%B9%95%E6%88%AA%E5%9B%BE_20-5-2026_131456_thebambooworks.com_-1024x674.jpeg\" alt=\"\" class=\"wp-image-32967\"><\/figure>\n<\/p>\n<p><em>image credit: Bamboo Works<\/em><\/p>\n<h4 class=\"wp-block-heading\"><strong>Key Takeaways:<\/strong><\/h4>\n<ul class=\"wp-block-list\">\n<li>Boyaa Interactive said its first-quarter loss more than doubled year-on-year, mainly due to a decline in bitcoin prices<\/li>\n<li>Excluding changes in the value of its bitcoin holdings, the company said its core profit for the quarter rose between 85% and 90%<\/li>\n<\/ul>\n<p><strong>Boyaa Interactive International Ltd.<\/strong>\u00a0(0434.HK) has transformed over the last two years, increasingly seen as a &#8220;bitcoin concept stock&#8221; as it drifts from its original core gaming business. As its bitcoin holdings grow, the gaming veteran&#8217;s earnings have become closely tied to price swings for the notoriously volatile cryptocurrency. But the company may be pursuing ambitions beyond simply stockpiling bitcoin.<\/p>\n<p>Boyaa rose to prominence through its Texas Hold&#8217;em games before being hit by a regulatory crackdown on card and board games in China. Over the last two years, the company has attracted growing investor attention for its move into bitcoin. A sharp rise for the cryptocurrency in 2024 brought Boyaa HK$948 million ($121 million) in gains that year, turbocharging its annual profit to HK$969 million. Investors even viewed Boyaa as a Hong Kong edition of bitcoin treasury company\u00a0<strong>Strategy Inc.<\/strong>\u00a0(MSTR.US) at one point, sending the Chinese company&#8217;s shares surging in tandem with Web3 and other bitcoin plays.<\/p>\n<p>But as bitcoin prices retreated, Boyaa recorded HK$411 million in losses from changes in the value of its holdings last year, sending it into the red with a net loss of HK$239 million. The bleeding is continuing this year, with the company\u00a0<strong><a href=\"https:\/\/www1.hkexnews.hk\/listedco\/listconews\/sehk\/2026\/0511\/2026051101226.pdf\" rel=\"nofollow\">warning last week<\/a><\/strong>\u00a0that its loss ballooned by 110% to 120% year-on-year in the first quarter, as weak bitcoin prices continued to wreak havoc on its balance sheet. That said, excluding the digital asset value changes, the company&#8217;s profit for the quarter actually rose by 85% to 90% year-on-year.<\/p>\n<p>Boyaa held 4,092 &#8230;<\/p>\n<p><a href=\"https:\/\/www.benzinga.com\/Opinion\/26\/05\/52695808\/boyaa-interactives-bitcoinization-strategy-faces-web3-reality-check?utm_source=benzinga_taxonomy&amp;utm_medium=rss_feed_free&amp;utm_content=taxonomy_rss&amp;utm_campaign=channel\" alt=\"Boyaa\" interactive strategy faces web3 reality check>Full story available on Benzinga.com<\/a><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Once known for its Texas Hold&#8217;em games, the company is repositioning itself as a Hong Kong-listed bitcoin play through its push into Web3 gaming image credit: Bamboo Works Key Takeaways: Boyaa Interactive said its first-quarter loss more than doubled year-on-year, mainly due to a decline in bitcoin prices Excluding changes in the value of its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-93845","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/93845","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=93845"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/93845\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=93845"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=93845"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=93845"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}