HKEX-listed Tech Firm Launches $15M Bitcoin Fund

Linekong Interactive, a technology company listed on the Stock Exchange of Hong Kong (HKEX), has introduced a $15 million fund to invest in Bitcoin network projects. Wang Fang, the founder of Linekong, stated that the fund, called “BTC Next,” aims to accelerate emerging projects in the Bitcoin ecosystem.

Linekong Interactive’s BTC Next Fund

The BTC Next fund will focus on asset issuance protocols, trading markets, expansion, virtual machines, NFT, RWA, and GameFi within the Bitcoin ecosystem. According to Fang, the firm plans to be involved in the research and investment of Bitcoin network ecological assets at an early stage and will regularly update its investment portfolios and crypto assets list.

Bitcoin Ecosystem Expansion

Traditionally, Bitcoin lacked programmability associated with newer blockchains like Ethereum, but this has changed with the introduction of Ordinals and Inscriptions. These allow users to create unique digital assets on the Bitcoin blockchain.

In June, BitKeep Wallet (now Bitget Wallet) added deposit and withdrawal support for BRC-20 Bitcoin tokens based on the Ethereum ERC-20 standard. Binance’s listing of BRC-20 token Ordinals (ORDI) on Nov. 7 resulted in a 40% surge in value, bringing the total market capitalization of BRC-20 tokens to $1.36 billion since their inception.

Linekong Interactive Background

Founded in 2007 in Beijing as an online gaming firm, Linekong Interactive went public in Hong Kong in 2014. Wang Fang, formerly a vice president of software development at Kingsoft Software, ventured into blockchain after resigning as Linekong’s CEO in 2018. He returned as CEO in 2022, focusing on integrating Linekong products with Web3.

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