Bitcoin, Bitcoin (BTC), China, Cryptocurrency, ETH, Ethereum, Ethereum (ETH), Hong Kong, Meitu, meitu app, Meitu HK, publicly listed company, Smartphone, Smartphone Apps, store of value, tech bitcoin

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 Crypto Recorded on its Balance Sheet

Meitu has revealed another cryptocurrency purchase after it announced two purchases last month. According to the announcement, on April 8, 2021, Meitu HK which is listed on the Hong Kong stock exchange, purchased a touch over 175 BTC. The company detailed it paid $10 million for the acquisition and to date, Meitu now holds $100 million worth of ethereum (ETH) and bitcoin (BTC) on its balance sheet.

“The board is pleased to announce that on April 8, 2021, Meitu HK had, pursuant to the Cryptocurrency Investment Plan, further acquired in open market transactions, an additional 175.67798279 units of bitcoin at an aggregate cash consideration of approximately US$10 million under the further bitcoin acquisition,†Meitu’s announcement said.

Bitcoin.com news covered the company’s past two purchases during the first two weeks of March 2021. When our newsdesk reported on the company, Meitu already held $40 billion worth of ETH and BTC. In our second report, Meitu managed to stack $90 million worth of digital assets to add to its “Cryptocurrency Investment Plan.â€

Bitcoin: ‘A Superior Form to Other Alternative Stores of Value’

The company’s latest announcement says that bitcoin serves as “a good alternative store of value†because of the crypto asset’s “limited in supply, its exchangeability into fiat money or goods and services, portability, and its potential to act as an effective hedge against depreciation of fiat currencies.â€

The company adds:

Meitu started 13 years ago and has become a well known firm in China for its photo selfie applications and smartphone technology. More recently, Meitu says that its board members have seen a “growing momentum†when it comes to cryptocurrencies. The company has noted well-established firms and operations like insurance companies making investments into crypto.

“An increasing number of listed companies are purchasing cryptocurrencies as part of their treasury management, as well as considering accepting cryptocurrency as a form of payment for their goods and services,†the company’s announcement concludes.

What do you think about Meitu purchasing another 175 bitcoin this week? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Du lịch nhật bản, hướng dẫn du lịch Nhật và đánh giá địa điểm Nhật Bản Japan travel news, japan travel guides, japan holiday destinations and japan reviews

RELATED NEWS

Ethereum Classic Rose 220% This Week, but Why?

Ethereum Classic, a seemingly forgotten cryptocurrency, reached the attention of many this week when its price skyrocketed out of the blue, but there might be some reasons behind it. Also, Bitcoin Cash and other Bitcoin-based forks enjoyed a healthy week in the green, alongside Dogecoin, whose price boosted on the news of Elon Musk appearing […]

Xem chi tiết: Ethereum Classic Rose 220% This Week, but Why?

South Korean Police Officers Banned From Buying Cryptocurrency

A recent ban imposed by the South Korean National Police Agency will bar particular officers from purchasing additional cryptocurrencies. The announcement coincides with a report revealing a heightened domestic availability of digital coins, in comparison to the global marketplace. South Korea to Penalize National Police Agency Officers Who Fail to Disclose Crypto Holdings Officers with […]

Xem chi tiết: South Korean Police Officers Banned From Buying Cryptocurrency

Binance Reaches Twitter Trending Topic Status in Venezuela

Binance, one of the largest cryptocurrency exchanges worldwide, has reached a trending topic status in the Twitter social network sphere in Venezuela. The trend before the weekend, shows just how important cryptocurrency topics are for the citizens of the country at the moment. Cryptocurrencies are extremely useful tools for Venezuelans to save their purchasing power […]

Xem chi tiết: Binance Reaches Twitter Trending Topic Status in Venezuela

Real Estate Listings Accepting BTC Touch Record Highs, 14.3 Homes per 100,000 Accept Crypto

Bitcoin and the crypto economy have been making their way into the world of real estate these days. A recently published report shows that Realtor.com data indicates that people selling property for crypto assets have risen a great deal. Statistics show that there are 14.3 crypto accepting listings per 100,000 homes in the company database. […]

Xem chi tiết: Real Estate Listings Accepting BTC Touch Record Highs, 14.3 Homes per 100,000 Accept Crypto

Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

The publicly-listed Canadian firm Nuvei Corporation announced the acquisition of the cryptocurrency company SimplexCC Ltd in an all-cash deal for $250 million. The deal is pending regulatory approval and Nuvei expects Simplex to “enhance†the firm’s portfolio of alternative payment method solutions. Nuvei Acquires Crypto Payments Provider Simplex On May 6, the Canadian company Nuvei […]

Xem chi tiết: Crypto Payment Firm Simplex Acquired by Publicly-Listed Canadian Firm Nuvei for $250 Million

Marathon Mines First OFAC Compliant Bitcoin Block

Marathon, one of the biggest bitcoin mining dedicated companies in the U.S. and Canada, has mined the first OFAC compliant bitcoin block, only accepting transactions that comply with the directives of this government office. This has caused a stir in libertarian circles, that argue this can be the start of censorship in the bitcoin blockchain […]

Xem chi tiết: Marathon Mines First OFAC Compliant Bitcoin Block

Kenyan Capital Markets Regulator Wants Better Coordination With Other Bodies When Testing Crypto Assets

Kenya’s Capital Markets Authority (CMA) says the country needs a more encompassing approach that enables it to leverage other regulators’ expertise when testing crypto assets. Kenyan Crypto Interest Also, the Kenyan body, which favours a joint financial sector regulatory sandbox, says it is keen to forge “a common stance and joint-messaging with the Central Bank […]

Xem chi tiết: Kenyan Capital Markets Regulator Wants Better Coordination With Other Bodies When Testing Crypto Assets

Coinbase Announces San Francisco HQ Shutdown by 2022

Coinbase, the most prolific U.S.-based cryptocurrency exchange, has announced it will close the doors of its former San Francisco HQ by 2022, in its push to go 100% remote. Earlier the company had announced its intention of ditching the traditional office-based model to decentralize its operations and instead impulse work from home politics as part […]

Xem chi tiết: Coinbase Announces San Francisco HQ Shutdown by 2022

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

‘Once in a While You Get Shown the Light’— Jerry Garcia Art to be Auctioned as an NFT for $1 Million

Crypto Derivatives Exchange FTX Starts Offering Lumber Futures Amidst Commodities Price Boom

Coinbase Announces San Francisco HQ Shutdown by 2022

‘Gold Is Clearly Being Replaced by Digital Gold’- Precious Metal Markets Spike, Strategist Mike McGlone Calls PM Action ‘Meh’

Crypto Analytics Firm Coin Metrics Raises $15 Million, Goldman Sachs Leads Funding Round

Venture Capitalist Proposes a Single Decentralized Crypto as a Solution to Boost Africa’s Inter-Regional Trade

The $70B Meme Coin Market: Dogecoin Skyrockets Past a Half Dollar, DOGE Market Cap Eats Into BTC Dominance