Meitu announces to purchase Bitcoin and Ethereum

Earlier this month, Meitu Technology announced its strategic investment in cryptocurrency and its blockchain value reserve. At that time, Meitu purchased cryptocurrency worth 40 million U.S. dollars.

Including 15,000 Ethereum and 379 Bitcoin, the average price is 1,474 US dollars/Ethereum and 47,200 US dollars/Bitcoin, and the purchase time is March 5th.

Meitu Technology announced the purchase of Bitcoin and Ethereum last night. The total value of the cryptocurrency purchased this time is US$50 million, which amounts to US$90 million.

According to Meitu Technology’s previous announcement, the company plans to purchase $100 million in cryptocurrency, which means that the company will spend another $10 million in the future.

“Bitcoin vs. Ethereum”by QuoteInspector is licensed under CC BY-ND 2.0

A wholly-owned subsidiary of Meitu Technology purchased 50 million US dollars of cryptocurrency again on March 17, including 16,000 Ethereum and 386.086 Bitcoin.

Based on this calculation, the unit prices of the purchased cryptocurrencies are 1775 USD/Ethereum (28.4 million USD), 55,900 USD/Bitcoin, and the total price is 21.6 million USD. So far, the total investment amount of cryptocurrency purchased by Meitu Technology has reached 90 million US dollars.

Meitu Technology previously announced that the board of directors had approved the cryptocurrency investment plan. According to the plan, the group can purchase cryptocurrency with a net value of no more than 100 million U.S. dollars.

Cai Wensheng, the founder of Meitu Technology, stated that the company will continue to deploy the blockchain. The purchase of Bitcoin and Ethereum this time is the company’s strategic value reserve for the development of the blockchain.

Via: coindesk