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Chinese Company Meitu Adds $50 Million In Bitcoin And Ethereum
Summary: Meitu, a Hongkong-listed tech company (01357.HK) announced that its subsidiary Miracle Vision has further purchased 16,000 units of ETH on March 17, 2021, with a total of $28.4 million, as well as 386.08581655 units of Bitcoin, with a total of $21.6 million. As of the date of this announcement, the group has cumulatively purchased cryptocurrencies ...
Meitu, a Hongkong-listed tech company (01357.HK) announced that its subsidiary Miracle Vision has further purchased 16,000 units of ETH on March 17, 2021, with a total of $28.4 million, as well as 386.08581655 units of Bitcoin, with a total of $21.6 million.
As of the date of this announcement, the group has cumulatively purchased cryptocurrencies worth approximately $90 million.
Meitu said in the disclosure: "The Board believes cryptocurrencies have ample room for appreciation in value and by allocating part of its treasury in cryptocurrencies can also serve as a diversification to holding cash (which is subject to depreciation pressure due to aggressive increases in money supply by central banks globally) in treasury management."
By Mary Liu
Tags: Bitcoin,Cryptocurrency,Ethereum,Meitu,Miracle Vision
Link: Chinese Company Meitu Adds $50 Million In Bitcoin And Ethereum [Copy]
