Bitcoin Price Surges Past $90K – Hong Kong Crypto-Linked Stocks Rally

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The price of Bitcoin has surged past $90,000, reaching a record high of $93,483 amid growing market optimism and shifting regulatory expectations. This historic rally has fueled strong performance in Hong Kong-listed stocks tied to the cryptocurrency ecosystem. Notably, Boya Interactive (00434.HK) jumped nearly 8%, while OKX Blockchain Group (01499.HK) and Meitu (01357.HK) also posted significant gains.

👉 Discover how major market shifts are boosting crypto-linked equities today.

Market Reaction to Bitcoin’s Historic Rally

As Bitcoin climbed above $90,000—marking a 1.9% increase at press time—investor sentiment across global markets turned increasingly bullish. The surge follows heightened speculation about favorable regulatory developments under the new U.S. political landscape. Analysts point to post-election confidence and expectations of a more crypto-friendly regulatory environment as key drivers behind the momentum.

James Butterfill, Research Head at CoinShares, stated that Donald Trump’s electoral victory and Republican control of the Senate could pave the way for a more accommodating regulatory framework for digital assets. He predicts Bitcoin could reach $100,000 by year-end—an upside of approximately 33% from current levels.

Even more bullish is Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, who forecasts Bitcoin will hit $125,000 by December 2024 and potentially rise to $200,000 by the end of 2025. These projections reflect growing institutional confidence in Bitcoin as both a store of value and a hedge against macroeconomic uncertainty.

Boya Interactive: A Case Study in Strategic Crypto Exposure

Among the top gainers in Hong Kong’s market, Boya Interactive stands out not just for its stock performance but for its bold strategic pivot toward digital assets. Originally known as a mobile game developer, the company has transformed into one of the most prominent crypto-exposed public firms in Asia.

Since 2023, Boya has actively invested in cryptocurrencies, treating them as core components of its long-term Web3 strategy. By the end of 2023, its digital asset holdings were valued at RMB 786 million. This figure ballooned to approximately RMB 1.688 billion ($235 million) by mid-2024, representing 75% of total assets and over 90% of its liquid assets.

Detailed Holdings as of November 12

With Bitcoin trading above $90,000 and Ethereum also experiencing strong upward momentum, Boya’s portfolio now enjoys substantial unrealized gains. These holdings have become a critical driver of profitability.

In Q1 2024, Boya reported a net profit increase of 1,093.4% year-on-year, with fair value gains from digital assets contributing RMB 245.7 million—accounting for 87% of attributable net profit. This underscores how deeply digital assets are now embedded in the company's financial performance.

Strategic Web3 Expansion Beyond Speculation

While some may view Boya’s crypto investments as speculative, the company emphasizes that these moves are part of a broader strategic vision to lead in the emerging Web3 gaming sector.

To strengthen its position, Boya joined Awakening Ventures Limited Partnership as a limited partner, committing $500,000 to invest in next-generation blockchain infrastructure and applications. Key focus areas include:

Additionally, Boya is ramping up development on multiple Web3-integrated games, aiming to blend traditional gameplay with blockchain features such as true digital ownership, cross-game interoperability, and player-driven economies.

This dual approach—strategic investment in core cryptocurrencies and active participation in Web3 innovation—positions Boya at the intersection of finance and technology disruption.

👉 See how forward-thinking companies are integrating crypto into real-world business models.

Why Crypto-Linked Stocks Are Gaining Investor Attention

The surge in Bitcoin’s price isn't just lifting the cryptocurrency itself—it's creating ripple effects across related industries. Publicly traded companies with direct or indirect exposure to digital assets are seeing renewed investor interest due to:

Firms like Boya Interactive, OKX Blockchain Group, and Meitu are benefiting from this trend. Their ability to capitalize on rising crypto valuations—either through investment gains or expanded user bases on blockchain platforms—makes them attractive proxies for retail and institutional investors seeking exposure to the digital asset revolution.

Moreover, increasing clarity around potential regulatory frameworks—especially in Western markets—has reduced perceived risk. Investors are now more willing to allocate capital to companies operating at the frontier of decentralized technologies.

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Frequently Asked Questions (FAQ)

Q: What caused Bitcoin to break $90,000?
A: The surge was driven by post-U.S. election optimism, expectations of pro-crypto regulation under a Republican-led government, and strong institutional demand. Increased adoption and limited supply also contributed to upward pressure on price.

Q: How does Boya Interactive benefit from rising Bitcoin prices?
A: Boya holds over 2,600 Bitcoin and 15,400 Ethereum. As prices rise, the fair value of these assets increases, directly boosting its balance sheet and reported profits through unrealized gains.

Q: Is investing in crypto-linked stocks risky?
A: Yes. These stocks are highly sensitive to cryptocurrency price volatility. While they offer leveraged exposure to market rallies, they can also experience sharp declines during corrections. Diversification and risk assessment are essential.

Q: What is Web3 gaming, and why is it important?
A: Web3 gaming integrates blockchain technology into video games, enabling true ownership of in-game items via NFTs, decentralized economies, and play-to-earn mechanics. It represents a shift from closed ecosystems to open, player-controlled environments.

Q: Can Bitcoin really reach $125,000 by year-end?
A: While not guaranteed, several major financial institutions—including Standard Chartered—believe favorable macro conditions, ETF inflows, and regulatory tailwinds make this target plausible within the current bull cycle.

Q: Are there other Hong Kong stocks exposed to crypto besides Boya?
A: Yes. Companies like OKX Blockchain Group and Meitu have significant crypto-related operations or asset holdings. They often move in tandem with broader market sentiment toward digital assets.

👉 Explore how evolving market dynamics are reshaping investment strategies in 2025.

Final Thoughts: A New Era for Digital Assets

The current surge in Bitcoin price is more than just a speculative wave—it signals a maturing ecosystem where digital assets influence traditional equity markets. As companies like Boya Interactive demonstrate, strategic cryptocurrency investment can transform business models and deliver outsized returns.

With growing institutional participation, clearer regulations on the horizon, and innovative applications emerging in sectors like Web3 gaming, the long-term outlook for digital assets remains strong. For investors watching Hong Kong crypto stocks, this moment offers both opportunity and insight into the future of finance.

Whether Bitcoin reaches $125,000 or even $200,000 in the coming months depends on continued adoption and macro support—but one thing is clear: the era of crypto as a fringe asset is over.