Please note, this is a STATIC archive of website www.coindesk.com from 28 Feb 2023, cach3.com does not collect or store any user information, there is no "phishing" involved.

Hong Kong-listed software firm Meitu has announced new crypto currency investments, having already splurged $39.9 million on bitcoin and ether earlier this month.

  • The company said Wednesday it has, through its subsidiary Miracle Vision, bought another 16,000 ETH valued at around $28.4 million and 386.086 BTC valued at approximately $21.6 million.
  • All told, the company now has $50.4 million in ether and $39.5 million in bitcoin, bringing its combined crypto holdings to the equivalent of a little over $90 million.
  • Meitu said the crypto assets had been bought for cash on the open market in transactions completed Wednesday.
  • The bitcoin and ether are being held in secure custody with "renowned" cryptocurrency trading platforms, the firm said.
  • The purchases were made under the terms of a board-approved investment plan that allows the company to invest in up to $100 million in cryptocurrencies.
  • Cayman Islands-incorporated Meitu is a provider of image and video processing software.

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.