Bitfire Acquires Li Lin's Avenir Trading Arm for $1.6M to Launch Alpha BTC Fund

Hong Kong-listed Bitfire has acquired Chinese crypto tycoon Li Lin's Avenir Group trading team and systems for $1.6 million to launch the regulated 'Alpha BTC' asset management product. The fund targets over 10,000 BTC ($760 million) in external capital within a year, generating returns via bitcoin derivatives and BlackRock IBIT-linked instruments amid Hong Kong's crypto push. Avenir holds 18.3 million shares of IBIT valued at $908 million (end-2025). Bitcoin trades around $76,000 after rebounding from weakness, with the deal poised to boost institutional demand.