After the firm revealed the purchase of an additional $10 million worth of Bitcoin (BTC) on 8 April, Meitu Hong-Kong tech has taken the total value of it cryptocurrency holdings to approximately $100 million..
For a combined price of $10 million Meitu Hk which is owned by Hong Kong subsidiary of Meitu Inc and which is also a registered company in Cayman Islands acquired 175.67798279 units of Bitcoin. Meitu Hk bought the Bitcoin with the existing cash reserve and which was also premised on open market spot prices.
During the past month, Meitu racked up $90 million worth of cryptocurrency purchases, split between Bitcoin and Ether (ETH). Following Thursday’s latest acquisition, the firm has now purchased $49.5 million worth of BTC, and $50.5 million worth of Ethereum.
The firm previously stated that it couldn’t have made its prior purchases without the help of United States-based cryptocurrency exchange Coinbase. No mention of Coinbase was made in the latest disclosure, however, the exchange has been responsible for handling the investments of other corporate entities, such as MicroStrategy, in the past.