Blueport Interactive plans to make a potential cryptocurrency purchase of up to 5 million dollars

ChainCatcher news, Blueport Interactive announced that according to the announcements made by the company on June 15, 2023, July 7, 2023, August 8, 2023, and August 17, 2023, the group has purchased a total of 92.4712 units of Bitcoin in open market transactions, with a total cash consideration of approximately 2.66 million USD. In the 12 months preceding the date of this announcement, the company has purchased a total of 93.85 units of Bitcoin in open market transactions, with a total cash consideration of approximately 2.7 million USD.

As the group is actively exploring the Web3 industry and entering the cryptocurrency investment market, potential cryptocurrency purchases are part of the group's Web3 business development and asset allocation strategy. After careful consideration, the board of directors recommends seeking prior approval from shareholders to grant purchase authority, empowering the directors to make potential cryptocurrency purchases during the authorized period, with a total consideration not exceeding 5 million USD.

In addition, the company stated that potential cryptocurrency purchases are part of the group's Web3 business development and asset allocation strategy. Allocating part of the group's funds to cryptocurrency can also diversify cash holdings in fund management. The group also notes that cryptocurrency prices can be highly volatile; therefore, the board intends to invest in the largest cryptocurrencies by market capitalization (such as Bitcoin and Ethereum), which will enhance shareholder value in the long run. The board also believes that this move will prepare for entering the blockchain industry.