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Meitu is a technology company that hails from Hong Kong and is thriving in the cryptocurrency market. This is evidenced by the recent reports of a cryptocurrency purchase of around $100 million. This follows the news published on April 8 this year when Meitu purchased bitcoins for around $10 million. 

What is the company Meitu?

Meitu is a company that is a developer of image editing software. It is mainly used in Mainland China, but also in Taiwan and Hong Kong. 

How much bitcoin has Meitu company purchased?

According to official information, the Meitu listed company purchased about 176 bitcoin for a total of about $10 million or about $57,000 per coin. The purchase was made using cash reserves that the company has and the expense was based on spot prices on the open market. 

Meitu has been interested in cryptocurrencies for some time as illustrated by the fact that the company has already spent approx. 90 million for the purchase of digital market assets, broken down into bitcoin and ethereum cryptocurrencies. Currently, the company’s portfolio contains bitcoin equivalent to around $49.5 million, while ethereum is around $50.5 million. 

Meitu joins a well-known group of cryptocurrency asset holders

With the mentioned news, Meitu joins an elite group of entities that hold assets in cryptocurrencies. Apart from Meitu, these include Tesla, MicroStrategy, and Square. It is worth noting that the aforementioned entities hold about 66% of the bitcoin dug up as of August 2020.