HK Stock Market Move | BOYAA (00434) rose nearly 7% in early trading, the company disclosed its holdings of cryptocurrencies, with an average cost of 54,000 US dollars per bitcoin.

BOYAA (00434) rose nearly 7% in the morning session, as of the time of writing, it is up 5.95% to HK$2.67, with a total trading volume of HK$157.512 million. On the news front, BOYAA disclosed its holdings in cryptocurrencies. The group currently holds 2641 bitcoins (BTC) with a total cost of approximately US$143 million, at an average cost of approximately US$54027 per BTC; and 15445 ethers (ETH) with a total cost of approximately US$42.58 million, at an average cost of approximately US$2756 per ETH. It is reported that since November, Bitcoin has risen by over 23%. Other cryptocurrencies known as "Trump trades" have also been on the rise. According to Coin Metrics data, on November 12th, spot Bitcoin briefly rose to $90,036.17, setting a new all-time high. Standard Chartered Bank analyst Geoff Kendrick had previously written in a report last month predicting that if Trump were to win, Bitcoin's price would reach $125,000 by the end of the year.