PlayIconNav
BTC
$67,890.29+2.99%
ETH
$3,270.89+2.82%
BNB
$581.27+1.78%
SOL
$182.48+5.93%
XRP
$0.60098659-0.02%
DOGE
$0.13373712+6.30%
CD20
$2,295.84+4.06%
TON
$6.71+1.34%
ADA
$0.41637545+5.36%
TRX
$0.13756063+1.35%
AVAX
$28.71+5.43%
WBTC
$67,980.85+3.19%
Ad
Finance

Chinese Web Firm Meitu Buys $10M More in Bitcoin

The publicly traded app developer has now spent $100 million on bitcoin and ether.

By Danny Nelson
AccessTimeIconApr 8, 2021 at 8:40 p.m. UTC
Updated May 9, 2023 at 3:18 a.m. UTC
Cai Wensheng, founder and chairman of Meitu
Cai Wensheng, founder and chairman of Meitu

Chinese app developer Meitu said Thursday it purchased 175.6 bitcoin for $10 million, bringing its total holdings of the cryptocurrency to over 940 coins.

  • The Hong Kong Stock Exchange-listed company has invested $100 million in bitcoin and ether positions since adopting a “cryptocurrency investment plan” in early March.
  • The company is part of a broader trend of publicly traded firms diversifying their cash treasury with bitcoin during the coronavirus pandemic.
  • Notably, Meitu, which also owns ETH, said it is buying crypto to prep for a “foray into the blockchain industry.”
  • Meitu held 31,000 ETH and over 940 BTC Thursday. It has invested roughly the same amount in both cryptos, though the ETH position, at nearly $64 million, was worth more at press time.
VolumeMuteUnmute

Why Bitcoin Miners Have Flocked to Texas

  • Bitcoin Slips to $29K Level Amid WSJ Report on Binance
    05:15
    Bitcoin Slips to $29K Level Amid WSJ Report on Binance
  • Sen. Tuberville on Bill to Block Chinese Ownership of American Crypto Companies
    13:59
    Sen. Tuberville on Bill to Block Chinese Ownership of American Crypto Companies
  • Bitcoin Holds Steady After China Rate Cut
    01:26
    Bitcoin Holds Steady After China Rate Cut
  • Crypto’s Fentanyl Trade Worth Tens of Millions: Security Researchers
    05:58
    Crypto’s Fentanyl Trade Worth Tens of Millions: Security Researchers

    • Disclosure

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

    CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.