Financial News
Written by: Kuang Yueting
2021-03-07 19:30
Last update date: 2021-03-07 19:30
Meitu Company (1357) announced that the company spent US$22.1 million (approximately HK$172 million) and US$17.9 million (approximately HK$140 million) to buy 15,000 units of Ethereum and 379 units of Bitcoin on March 5, respectively. The total value of the two transactions was approximately US$40 million (approximately HK$312 million).
Meitu said that the blockchain industry is still in its early stages, similar to the mobile Internet industry around 2005. It has the potential to subvert the existing financial and technology industries, while the cryptocurrency has enough room for appreciation, and at this time it will be partially The cash reserves are allocated to cryptocurrencies and can be used to diversify the risk of holding cash in fund management.
Meitu pointed out that this time, it can show investors and stakeholders the group’s ambition and determination to accept technological innovation, so as to prepare for entering the blockchain industry, but the price of cryptocurrency will still fluctuate in the short term, so it is decided Invest in the two largest cryptocurrencies by market value, Ether and Bitcoin.
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Bitcoin Bitcoin Ethereum Cryptocurrency Meitu Company