Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Bitcoin (BTC)
  • Meitu Becomes the First Chinese Firm to Invest in Bitcoin and Ethereum
  • Bitcoin (BTC)
  • Crypto News

Meitu Becomes the First Chinese Firm to Invest in Bitcoin and Ethereum

Giovanni Hernandez March 7, 2021 2 min read

The Asian markets seem to be going through some problems with cryptocurrencies. Mainly, the local governments are taking their time in regulating the use of cryptocurrency in their territory. For the most part, Asian markets like India, Thailand, and others have not been very optimistic about crypto trading or crypto investment. 

However, the news of Meitu, a Chinese public listed company, investing in multiple cryptocurrencies has piqued crypto enthusiasts’ interest. Meitu is a social media image processing company that has invested $ 40 million dollars’ worth of cash reserves in Bitcoin and Ethereum.

Ethereum Versus Bitcoin Popularity in China

In an official statement, Meitu executives briefed the media about its “Crypto currency investment Plan,” passed by the company board of directors. It should be noted that the company is well-versed with digital trading practices given its nature of business and has a market cap of $ 40 million dollars.

Thus far, Meitu investment records show the purchase of Ethereum worth $22.1 million and 379.1214267 BTC for $17.9 million. These statistics clearly indicate that the company has dominantly invested in Ethereum. Ethereum has been the most dominant digital currency of interest in China for a long time.

Many financial experts have pointed at the possible surge or bullish trend for Ethereum in the near future. Meitu is, however, the first public listed company in China to dip its fingers into the cryptocurrency investment pool. The company generates an annual income of approximately $107 million.

Crypto Investment for Cash Depreciation Counter

Meitu ‘Crypto currency Investment Plans’ projects a comprehensive investment plan of its cash reserves in the near future. The current investment by Meitu is priced at $ 40 million. However, given the value of its market cap and revenue stream, it is possible that the company makes additional crypto purchases worth up to $ 60 million.

The company’s move is to insure itself against the depreciation of money caused by central banks’ money supply schemes. This strategy may also save the public listed company from the decline in the value of holding cash in the future. The board of directors has decided to invest in the crypto market based on their estimation of value appreciation and bullish trends in the crypto arena.

Post Views: 553

Continue Reading

Previous: Ripple’s Business Is Boosting In Asia Amid The US Trauma
Next: Escaroo Partners With Moonstake To Adopt Staking Function

Related Stories

Class-Action Lawsuit Accuses Robinhood Of Market Manipulation
2 min read
  • Crypto News
  • Cryptocurrency/Cryptocoin

Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

August 15, 2022
With 61% Gains, ETH has Successfully Overtaken Bitcoin Sberbank
2 min read
  • Crypto News
  • Ethereum (ETH)
  • Price Analysis

With 61% Gains, ETH has Successfully Overtaken Bitcoin

August 8, 2022
Ripple Survey Claims That In Three Years Cryptocurrencies Will Be Adopted By Three-Quarters Of Institutions
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)
  • Ripple (XRP)

Ripple Survey Claims That In Three Years Cryptocurrencies Will Be Adopted By Three-Quarters Of Institutions

August 7, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$23,824.00
-0.98%
ethereum
Ethereum (ETH)
$1,870.58
-1.37%
tether
Tether (USDT)
$1.00
-0.24%
usd-coin
USD Coin (USDC)
$1.00
-0.13%
binancecoin
BNB (BNB)
$313.39
-1.71%
cardano
Cardano (ADA)
$0.56
0.01%
ripple
XRP (XRP)
$0.373625
0.18%
dogecoin
Dogecoin (DOGE)
$0.084836
8.83%
polkadot
Polkadot (DOT)
$8.88
0.71%
Uniswap
Uniswap (UNI)
$8.29
-2.25%

Recent Posts

  • Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

    Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

    A class-action lawsuit was recently filed against Robinhood, which supports stock and crypto trading, and the platform has
  • JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review Suppose you are interested in trading cryptocurrencies but are hesitant to do so due to
  • Alfabtc Review – A Recommended Cryptocurrency Broker

    Alfabtc Review – A Recommended Cryptocurrency Broker

     Alfabtc Review Alfabtc is a competent brokerage firm known for its fast and efficient execution of trade. The
  • With 61% Gains, ETH has Successfully Overtaken Bitcoin

    With 61% Gains, ETH has Successfully Overtaken Bitcoin

    The native token of Ethereum “Ether – ETH” has managed to outperform Bitcoin (BTC) prior to the implementation
  • Ripple Survey Claims That In Three Years Cryptocurrencies Will Be Adopted By Three-Quarters Of Institutions

    Ripple Survey Claims That In Three Years Cryptocurrencies Will Be Adopted By Three-Quarters Of Institutions

    A recent survey has shown that 76% of financial institutions will adopt cryptocurrencies. The survey result has shown

Start Trading

Categories

Top Posts

  • Beast Masters (MASTER) and ALYATTES (ALYA) Become Extremely Bullish for Investors

    Beast Masters (MASTER) and ALYATTES (ALYA) Become Extremely Bullish for Investors

    While the investors keep hoping to see high gains demonstrated by major cryptocurrencies such as BNB, LUNA, and
  • Japanese Financial Services Firm SBI Holdings Says XRP Is A Crypto Asset Under Japanese Law

    Japanese Financial Services Firm SBI Holdings Says XRP Is A Crypto Asset Under Japanese Law

    Though some cryptocurrency firms and digital currency exchanges have ditched XRP over the past few days due to
  • Roimax Review – Is it the optimal crypto trading platform?

    Roimax Review – Is it the optimal crypto trading platform?

    Why choose Roimax? Roimax is a cryptocurrency trading platform providing access to an expanded cryptocurrency offering, designed for
  • China’s Official Crypto Coin’s First Theft Goes Viral

    China’s Official Crypto Coin’s First Theft Goes Viral

    China is amongst the first of the countries of the world which have successfully launched its official cryptocurrency
  • Bitcoin Evangelion Strikes Continues to Convert Non-believers into Bitcoiners

    Bitcoin Evangelion Strikes Continues to Convert Non-believers into Bitcoiners

    Peter Schiff has been known to issue anti-crypto comments in the past. Recently the Morning Coffee News outlet

Archives

You may have missed

Class-Action Lawsuit Accuses Robinhood Of Market Manipulation
2 min read
  • Crypto News
  • Cryptocurrency/Cryptocoin

Class-Action Lawsuit Accuses Robinhood Of Market Manipulation

August 15, 2022
JP Crypto Review – a Recommended Crypto Broker
3 min read
  • Brokers
  • Reviews

JP Crypto Review – a Recommended Crypto Broker

August 12, 2022
Alfabtc Review – A Recommended Cryptocurrency Broker
3 min read
  • Brokers
  • Reviews

Alfabtc Review – A Recommended Cryptocurrency Broker

August 10, 2022
With 61% Gains, ETH has Successfully Overtaken Bitcoin Sberbank
2 min read
  • Crypto News
  • Ethereum (ETH)
  • Price Analysis

With 61% Gains, ETH has Successfully Overtaken Bitcoin

August 8, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
  • Alfabtc
  • JP Crypto
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$23,824.00-0.98%
  • ethereumEthereum(ETH)$1,870.58-1.37%
  • tetherTether(USDT)$1.00-0.24%
  • usd-coinUSD Coin(USDC)$1.00-0.13%
  • binancecoinBNB(BNB)$313.39-1.71%
  • cardanoCardano(ADA)$0.560.01%
  • rippleXRP(XRP)$0.3736250.18%
  • SolanaSolana(SOL)$43.12-1.55%
  • dogecoinDogecoin(DOGE)$0.0848368.83%
  • polkadotPolkadot(DOT)$8.880.71%
  • UniswapUniswap(UNI)$8.29-2.25%
  • bitcoin-cashBitcoin Cash(BCH)$136.13-0.61%