Technology company Meitu continues to buy an additional $ 49 million in Bitcoin and ETH

Technology company Meitu continues to buy an additional $ 49 million in Bitcoin and ETH


2021-03-22 08:49:54

The market is really testing the patience of retail investors as Bitcoin’s price has been relatively bearish in recent times. But that is a completely different story for large investors, they constantly buy not only Bitcoin but also ETH when the opportunity arises. Recently, Chinese technology company Meitu publicly bought an additional 49 million USD in BTC and ETH.

In a filing released on March 18, Meitu said the Bitcoin acquisition would create part of Miracle Vision’s budget. Ethereum aims to play a role with broader expectations in the blockchain space. With a total purchase value of 28.4 million USD ETH and 21.6 million Bitcoin.

Meitu first bought notice of buying 40 million USD BTC and ETH on March 8. According to Meitu, the buy plan is seen as part of their crypto campaign. The initial plan is expected to include buying cryptocurrencies with a value of $ 100 million.

In conjunction with this event, Grayscale has also launched investment funds for 5 new altcoins: BAT, LINK, MANA, FIL, LPT. The market has gradually returned to green color. Morgan Stanley offered its clients Bitcoin investment rights – BTC immediately exploded, a good sign of the growing push by large institutions to enter Bitcoin.

However, the Meitu board believes that cryptocurrencies have plenty of room to increase value, and by distributing part of the company’s treasury with cryptocurrencies, they could also act as diversification to hold cash. , which is under pressure to reduce prices due to the sharp increase in money supply of central banks around the world.

CHK aggregated

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