Chinese Tech Firm Meitu Buys 175 Bitcoin, Treasury Now Holds $100 Million Worth in BTC and ETH

The China-based smartphone and internet app maker Meitu has announced the acquisition of $10 million worth of bitcoin for its treasury after the firm purchased digital assets two times prior last month. The company’s cryptocurrency holdings now stack up to $100 million worth of ethereum and bitcoin. Meitu Stacks Another 175 Bitcoin, $100 Million in […]

Chinese Tech Firm Meitu Buys 175 Bitcoin, Treasury Now Holds $100 Million Worth in BTC and ETH

The China-based cell phone and web application producer Meitu has declared the securing of $10 million worth of bitcoin for its depository after the firm bought advanced resources multiple times earlier a month ago. The organization's cryptographic money possessions currently stack up to $100 million worth of ethereum and bitcoin. Meitu Stacks Another 175 Bitcoin, $100 Million in Crypto Recorded on its Balance Sheet Meitu has uncovered another digital money buy after it reported two buys a month ago. As per the declaration, on April 8, 2021, Meitu HK which is recorded on the Hong Kong stock trade, bought a touch more than 175 BTC. The organization nitty gritty it paid $10 million for the obtaining and to date, Meitu presently holds $100 million worth of ethereum (ETH) and bitcoin (BTC) on its asset report.

"The board is satisfied to report that on April 8, 2021, Meitu HK had, in accordance with the Cryptocurrency Investment Plan, further obtained in open market exchanges, an extra 175.67798279 units of bitcoin at a total money thought of around US$10 million under the further bitcoin securing," Meitu's declaration said. Bitcoin.com news covered the organization's previous two buys during the initial fourteen days of March 2021. When our newsdesk provided details regarding the organization, Meitu previously held $40 billion worth of ETH and BTC. In our subsequent report, Meitu figured out how to stack $90 million worth of advanced resources for add to its "Cryptographic money Investment Plan." Bitcoin: 'A Superior Form to Other Alternative Stores of Value' The organization's most recent declaration says that bitcoin fills in as "a decent elective store of significant worth" due to the crypto resource's "restricted in supply, its exchangeability into fiat cash or products and ventures, compactness, and its capability to go about as a compelling fence against devaluation of fiat monetary standards." The organization adds: Some of these highlights conceivably even render bitcoin as a better structure than other elective stores of significant worth like gold, valuable stone, and land. Being an elective store of significant worth, its cost is basically an element of future interest that is driven by the agreement of financial backers and the overall population.

Meitu began 13 years prior and has gotten a notable firm in China for its photograph selfie applications and cell phone innovation. All the more as of late, Meitu says that its board individuals have seen a "developing energy" with regards to digital forms of money. The organization has noted grounded firms and tasks like insurance agencies making interests into crypto. "An expanding number of recorded organizations are buying digital currencies as a component of their depository the executives, just as thinking about tolerating cryptographic money as a type of installment for their products and ventures," the organization's declaration finishes up.

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