Meitu Buys Additional 175 BTC for $10M
Main page News, Bitcoin, China, Cryptocurrency
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8 April
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Meitu Inc., a Chinese tech company focused on mobile applications, has announced an additional investment of $10 million in the bitcoin (EXANTE: Bitcoin) cryptocurrency. According to a press release, the company acquired 176.67 BTC. Thus, the company has reached its initial goal to invest $100 million in cryptocurrency.

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In total, Meitu hodls 31,000 ETH (~$64.1 million) and 940 BTC (~$54.3 million). According to a local blockchain journalist Colin Wu, the company purchased the cryptocurrencies via OSL, a cryptocurrency exchange based in Hong Kong.

Meitu Founder owns 10000 BTC

In March, Coinbase Institutional announced that Meitu carried out $90 million investments on bitcoin and ether through its services. According to Kayvon Pirestani, Head of APAC Institutional Coverage, Meitu used Coinbase's algorithmic execution and smart order routing tools on agency-only OTC trading desk. The acquired assets were then transferred to the exchange's custodian Coinbase Custody.

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