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
  • Crypto News
  • Meitu Makes Huge Purchase Of Bitcoin And Ethereum
  • Crypto News

Meitu Makes Huge Purchase Of Bitcoin And Ethereum

Lucas Duffy March 18, 2021 2 min read

One can arguably and boldly claim that holding Bitcoin is a brilliant move amongst investors, even if some still believe otherwise. Bitcoin has cemented its place at the top and be one of the market’s most priced assets. Even though some entities still feel the digital asset is a bubble, it has not stopped others from buying it in large quantities.

A recent report from China is that a company in the tech space in the region has just chalked up a huge quantity of the digital asset. The firm has previously bought a huge amount of the digital asset and has now recently added to its stash of Bitcoin and Ethereum.

The company now holds $90 million worth of digital assets

With this purchase, Meitu, the firm in question, now officially boasts of a crypto holding close to $90 million. Before now, the company entered the Bitcoin space at the start of the year and bought strategic holdings of both Bitcoin and Ethereum. At the beginning of this month, the firm announced a huge purchase of Bitcoin and Ethereum worth $22 million and $17.9 million, respectively.

Today’s announcement noted that the firm has further added $28.4 million worth of Ethereum and 21.6 million worth of leading digital asset, Bitcoin, to its holding. “We are proud to announce that on this day, our crypto holdings have now increased to a region around $90 million, due to the recent purchase that we just made”, a statement from the tech company read.

Meitu is now one of the latest companies that have chosen to pool their funds into the digital assets as the price continues to seek new all-time highs. Bitcoin has been able to amass up to a 1000% increase since a year ago that the coronavirus pandemic disrupted the market, causing the digital assets to nosedive.

Institutional investors are now dominating more than ever

This Bitcoins latest feat is seen as remarkable judging by the recent price of around $57,000 that the coin trades now compared to the $3,500 that it traded in a year ago. Analysts and traders have attributed the digital assets’ sporadic rise to market forces, especially institutional investors.

They have continued to dominate the space with massive purchases due to reasons best known to them. Microstrategy was the first company that opened the space as its CEO, Michael Saylor, pointed out that he marveled at the performance of what he could best describe as a “digital gold.” He also noted that companies who want to hedge their capital amid the inflation and decline of the dollar should make the smart move of pooling their funds into the digital assets.

Presently, his company now boasts of nothing less than $5 billion worth of Bitcoin due to their purchase of the digital assets since last year. Square comes close to Microstrategy after the firm announced late October last year that it now holds Bitcoin worth $50 million. The company also recently made another huge purchase, this time adding Bitcoin worth $170 million to its holding.

Post Views: 831

Continue Reading

Previous: Investors Rejoice As BAT Hits New Heights
Next: New Titles Adopted by Tesla CEO and Tesla CFO

Related Stories

Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)
  • Solana (SOL)

Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

August 6, 2022
Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

August 5, 2022
Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC
2 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto News

Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

August 4, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,529.00
0.14%
ethereum
Ethereum (ETH)
$1,986.53
0.01%
tether
Tether (USDT)
$1.00
-0.09%
usd-coin
USD Coin (USDC)
$1.00
-0.13%
binancecoin
BNB (BNB)
$324.89
-1.73%
cardano
Cardano (ADA)
$0.58
4.05%
ripple
XRP (XRP)
$0.384963
1.08%
polkadot
Polkadot (DOT)
$9.29
-2.12%
dogecoin
Dogecoin (DOGE)
$0.078248
6.42%
Uniswap
Uniswap (UNI)
$9.14
1.04%

Recent Posts

  • 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
  • Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

    Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

    Cosmos (ATOM) A look at the data for Cosmos (ATOM) shows that on Thursday, it was trading at
  • Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

    Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

    On Thursday, Hotbit made a concerning announcement for the entire customer base. The cryptocurrency exchange notified the users
  • Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

    Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

    Argo Blockchain has been selling Bitcoin (BTC) that belongs to the blockchain’s holdings. The reason behind selling Bitcoin

Start Trading

Categories

Top Posts

  • Tether to Launch a Stablecoin Pegged to the British Pound

    Tether to Launch a Stablecoin Pegged to the British Pound

    The founder of the USDT stablecoin, Tether recently announced plans of launching another stablecoin, but this one will
  • Bitcoin Price Analysis shows it may Decline to $30,000 or Surge to $52,088

    Bitcoin Price Analysis shows it may Decline to $30,000 or Surge to $52,088

    According to data, Bitcoin’s price ended up falling below the $44,681 per BTC price, which is the 20-day
  • Experienced Crypto Investors Share Tips that help them Gain High Profits

    Experienced Crypto Investors Share Tips that help them Gain High Profits

    One of the most common misconceptions about crypto trading is that it anybody can do it and that
  • How Bitcoin’s Inventor Kept His Identity Secret Even after 12 Years

    How Bitcoin’s Inventor Kept His Identity Secret Even after 12 Years

    Ever wonder who was the person behind the creation of the present-day phenomenon i.e. Bitcoin? Of course not
  • Price Analysis of BMIC, CWEB, FFWOOL, and more Cryptocurrencies

    Price Analysis of BMIC, CWEB, FFWOOL, and more Cryptocurrencies

    The performance data shared by CoinMarketCap for BITMIC (BMIC) shows that its price has plummeted by 8.08% in

Archives

You may have missed

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
Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)
  • Solana (SOL)

Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

August 6, 2022
Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

August 5, 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)$24,529.000.14%
  • ethereumEthereum(ETH)$1,986.530.01%
  • tetherTether(USDT)$1.00-0.09%
  • usd-coinUSD Coin(USDC)$1.00-0.13%
  • binancecoinBNB(BNB)$324.89-1.73%
  • cardanoCardano(ADA)$0.584.05%
  • rippleXRP(XRP)$0.3849631.08%
  • SolanaSolana(SOL)$46.42-0.97%
  • polkadotPolkadot(DOT)$9.29-2.12%
  • dogecoinDogecoin(DOGE)$0.0782486.42%
  • UniswapUniswap(UNI)$9.141.04%
  • bitcoin-cashBitcoin Cash(BCH)$144.340.06%