Boyaa Interactive, often dubbed Hong Kong's "MicroStrategy," is moving against a market still gripped by "Extreme Fear." The Hong Kong-listed game developer said on March 22 it plans to seek approval to invest an additional $70 million in cryptocurrencies over the next year, framing the 2026 pullback as a rare accumulation window. Chaired by long-time Bitcoin advocate Dai Zhikang, Boyaa is positioning the purchases as more than a treasury hedge. The company is tying the strategy to a broader Web3 push, using surplus cash to expand holdings while many firms stay on the sidelines. Boyaa currently holds 4,092 BTC, acquired at an average price of $68,211, along with 302 ETH, according to BitcoinTreasuries.Net. The $70 million plan serves two stated aims: building a financial base for future Web3 gaming initiatives and making the stock more closely aligned with Bitcoin price moves, particularly for Asian investors. Boyaa's continued focus on Bitcoin and Ethereum comes as proposed frameworks such as the CLARITY and GENIUS Acts reshape the regulatory conversation, signaling the firm's long-term conviction. Ongoing dip buying can also lower Boyaa's average cost, reinforcing a long-horizon accumulation approach. The company remains far smaller than Strategy, which holds more than 761,000 BTC. Strategy's executive chairman Michael Saylor has completed 103 purchases and has again suggested more buying, posting "The Orange March Continues" on X. Boyaa's move fits a broader trend of Asian corporates adopting a playbook popularized in the West. Japan's Metaplanet has also been buying aggressively and now holds more than 35,000 BTC, ranking among the largest public Bitcoin holders. Market conditions remain fragile. As of March 23, 2026, Bitcoin traded around $68,416, and crypto-linked equities were under pressure. Boyaa shares fell more than 5%, while Strategy also posted a smaller decline at the time, underscoring still-weak near-term sentiment. Even so, Boyaa is treating drawdowns as planned entry points rather than signals to de-risk. The growing wave of corporate accumulation has fueled speculation in the crypto community that Strategy could eventually become the world's first public "Bitcoin bank." As fear continues to dominate headlines, firms like Boyaa are building positions they believe could shape the next cycle. The split is widening between companies waiting for clearer rules and those choosing to build through uncertainty.

CoinShares has filed for a Bitcoin Volatility ETF that would trade under the ticker CBIX.

Strategy has ramped up its Bitcoin purchases in recent weeks, coinciding with increased issuance of its STRC preferred shares. Strive Asset Management said it put $50 million into the dividend-paying product last week. "I think we're going to see this continue to evolve and snowball," said Strive Chairman and CEO Matt Cole (@ColeMacro).

Strategy (formerly MicroStrategy) disclosed in an SEC Form 8-K that it purchased 1,031 bitcoin between March 16 and 22 at an average price of about $74,326 per BTC, spending $76.6 million. The company said the buys were funded entirely through at-the-market sales of common stock. It did not use preferred-share financing for this tranche. Strategy's total bitcoin holdings now stand at 762,099 BTC, acquired for an aggregate $57.69 billion at an average cost of roughly $75,694 per BTC. With bitcoin trading in the high $60,000s, the position implies around $5 billion in unrealized losses. The latest purchase marks a steep deceleration from recent weeks, when the firm added 22,337 BTC ($1.57 billion) and 17,994 BTC ($1.28 billion). At 1,031 BTC this week, that's about a 95% drop in weekly buying volume. Even with the slowdown, Strategy remains the world's largest corporate holder of bitcoin. For March, the company has added about 41,362 BTC for approximately $2.93 billion.

Strategy said it plans to raise $44 billion through an equity issuance, aiming to bolster its Bitcoin-buying program and fund additional purchases going forward.

US spot Bitcoin ETFs logged $95.18 million in net inflows for the week ending March 20, 2026, marking a fourth consecutive week of positive flows, according to SoSoValue data. The week's gain came almost entirely from the first two sessions. ETFs attracted $201.62 million on March 16 and another $199.37 million on March 17, for just over $401 million combined. That early strength was later pared back by three straight days of redemptions: $163.52 million on March 18, $90.19 million on March 19, and $52.11 million on March 20, a three-day total of $305.82 million. Cumulative net inflows across all Bitcoin ETFs rose to $56.23 billion. Total net assets ended the week at $90.30 billion, down from $96.74 billion at the March 17 close. Weekly trading value came in at $15.65 billion versus $17.78 billion the previous week. The latest weekly inflow follows prior weekly totals of $568.45 million, $767.33 million, and $401 million. Ethereum spot ETFs moved in the opposite direction, posting $59.94 million of net outflows for the week and snapping a three-week inflow streak. Cumulative net inflows for Ethereum ETFs slipped to $11.73 billion, while total net assets fell to $12.33 billion from $13.75 billion a week earlier. Outflows were heaviest midweek, led by $55.70 million on March 18 and $136.41 million on March 19, with another $41.97 million leaving on March 20. Beyond BTC and ETH, Solana ETFs recorded $21.10 million of net inflows for the week, keeping a broadly positive trend intact after inflows in five of the past six weeks. XRP ETFs edged back into positive territory with $0.64 million of inflows, after two consecutive weeks of outflows totaling more than $80 million, including $76.1 million and $4.09 million in the prior two weeks. Over the four-week stretch from late February through March 20, net inflows into Bitcoin ETFs totaled about $1.53 billion. That compares with the preceding five-week period, when the category saw roughly $3.0 billion of net outflows.

European Bitcoin Treasury H100 said it plans to triple its Bitcoin holdings by acquiring two companies.

Bitcoin has climbed 11% as the US debt crisis deepens, while gold has fallen 16% over the same period.