Share this article
Meitu Buys More Bitcoin and Ether, Bringing Total Holdings to $90M
The software company now has $50.4 million in ether and $39.5 million in bitcoin.
Updated May 9, 2023, 3:17 a.m. Published Mar 17, 2021, 3:54 p.m.
Make us preferred on Google
Hong Kong-listed software firm Meitu has announced new crypto currency investments, having already splurged $39.9 million on bitcoin and ether earlier this month.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
- The company said Wednesday it has, through its subsidiary Miracle Vision, bought another 16,000 ETH valued at around $28.4 million and 386.086 BTC valued at approximately $21.6 million.
- All told, the company now has $50.4 million in ether and $39.5 million in bitcoin, bringing its combined crypto holdings to the equivalent of a little over $90 million.
- Meitu said the crypto assets had been bought for cash on the open market in transactions completed Wednesday.
- The bitcoin and ether are being held in secure custody with "renowned" cryptocurrency trading platforms, the firm said.
- The purchases were made under the terms of a board-approved investment plan that allows the company to invest in up to $100 million in cryptocurrencies.
- Cayman Islands-incorporated Meitu is a provider of image and video processing software.
See also: Grayscale Offers New Trusts to Invest in 5 More Cryptos Including Filecoin, Chainlink
More For You
What to expect at CoinDesk's Consensus Hong Kong 2026
Consensus Hong Kong kicks off on Wednesday with speeches from the city's chief executive and the head of its markets regulator.
What to know:
- Consensus Hong Kong 2026 starts Wednesday with more than 10,000 attendees and 350 speakers discussing tokenization, stablecoins, AI and other crypto themes.
- The two-day conference follows recent volatility in bitcoin, which plunged from above $95,000 to near $60,000 before rebounding to about $70,000 in a matter of weeks.
- Speakers include Hong Kong Chief Executive John KC Lee, Animoca co-founder Yat Siu, Solana Foundation President Lily Liu and BitMine Chairman Tom Lee.
Top Stories
