Meitu Acquired $ 40 Million BTC and ETH!

The Chinese-based application company Meitu announced that it has purchased 380 Bitcoin and 15,000 Ethereum.

Chinese application company Meitu, listed in Hong Kong, acquired $ 40 million worth of BTC and ETH. 380 Bitcoins are worth $ 17.9 million, while 15,000 Ethereums are worth $ 22 million.   $ 40 Million Crypto Investment Meitu, known as the smartphone maker and selfie application software company, which has been listed on the Hong Kong Stock Exchange since 2016 and has a market value of $ 11.76 billion, announced that it has purchased 380 Bitcoin and 15,000 Ethereum. In the statement made by the company, which was founded 8 years ago, it was stated that they are convinced of the capacity of blockchain technology. Company said, "Similar to the mobile internet industry in 2005, the board believes the blockchain industry is still in its early stages and holds great promise for the future." Meitu announced that it has made an investment of $ 40 million in Bitcoin and Ethereum, the two largest cryptocurrencies by market cap. Overall, cryptocurrency prices are still volatile, according to the company; However, the two cryptocurrencies in question seem quite safe in the long run.   Meitu is Hopeful About The Future Of Cryptocurrency Meitu's investment in cryptocurrency is considered as part of the company's asset allocation, backed by its strategy, which it defines as a "growing momentum in the process of building consensus." Following the processes of insurance companies and fund managers investing in blockchain, FOMO has also enabled companies to add this to their treasury or accept crypto as a form of payment. China-based application company Meitu thinks traditional banks have a pretty good timing as their interest in cryptocurrency is increasing. Both steps increase investors' confidence in cryptocurrency. Whether the Meitu’s crypto spending craze has increased investors' confidence in the company will become clear with the exchange's announcement.