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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.
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.
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- 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
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