Meitu from China has acquired $10 Million Worth of More Bitcoin
As per the latest reports, it has been revealed that Meitu’s Hong Kong-based wholly subsidiary has gone for a decent BTC purchase. Meitu is one of the most prominent application developers from China that is responsible for many popular applications.
It has been reported that Meitu’s Hong Kong subsidiary has successfully acquired 175.6 more Bitcoin (BTC). The sources have confirmed that Meitu’s subsidiary has spent approximately $10 million in order to acquire 175.6 Bitcoin (BTC).
Meitu confirmed the information around the acquisition of more BTC by its Hong Kong-based subsidiary on Thursday, April 8, 2021.
After the recent purchase, the total count of Bitcoin (BTC) being held by Meitu has gone all the way up to 940 coins. At the time of writing, the 940 Bitcoin (BTC) under Meitu’s possession translate to around $55 million.
Before going for the recent Bitcoin (BTC) purchase, Meitu had also made a huge announcement around its acquisition of large batches of Ethereum (ETH).
Before BTC, Meitu had acquired a large batch of 31,000 Ethereum tokens that translate to a total of $64.5 million.
The information around the acquisition of Ethereum (ETH) was revealed by Meitu during its filing with the Hong Kong Stock Exchange that it did on Thursday, April 8, 2021.
This is not the first time a large company has made a decent investment in Bitcoin (BTC). In the past couple of years, Bitcoin (BTC) has gained a lot of recognition and value in the markets. It has managed to achieve this not only in the internet or crypto-markets but also in the mainstream industry.
This is the reason why Bitcoin (BTC) has been observing a lot of mainstream adoption and investments lately. As the industry constantly grows, there are many speculations that Bitcoin (BTC) will continue experiencing all-time highs. This means that the price of Bitcoin (BTC) will continue rising and the investments will keep coming in for the platform.
The board of directors at Meitu have also expressed their satisfaction in regards to their treasury investing in Bitcoin (BTC). Just recently, there was a statement released by the board members from Meitu where they remarked on the presence of cryptocurrencies in the market.
As per them, the cryptocurrency industry is set for new achievements, as there is a lot of room for the digital industry in terms of appreciation and adoption.
Therefore, by investing a portion of the company’s reserves in Bitcoin (BTC) and other major cryptocurrencies, Meitu is ensuring that it continues to profit from current market trends.
Over the course of time, Bitcoin (BTC) has become one of the most reliable long-term investment options. At the time of writing, the price of Bitcoin (BTC) is hovering around $52.2k per BTC.