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<\/p>\nJust a few days after an exclusive entry into the crypto space, Chinese Technology Firm, Meitu Inc revealed that it had acquired additional BTC and Ether. A bigger investment this time.<\/p>\n
The company’s previous investment which marked its first venture into the crypto space saw a purchase of $40 million worth of BTC and ETH.<\/p>\n
According to a Wednesday announcement, the tech company unveiled another purchase of 386.08581655 BTC and 16000 ETH worth about $21.6 million and $28.4 million respectively.<\/p>\n
Thus, Meitu has snapped up its crypto holdings to over $90 million as of publication.<\/p>\n
It has become a general opinion that the recent appreciation in the value of BTC can be traced down to the crypto’s massive adoption by large firms.<\/p>\n
The price of BTC has been on a skyrocketing pace since many big firms have been acquiring Bitcoin enormously.<\/p>\n
Meitu is a Hong Kong Stock Exchange-listed smartphone company with a flagship app that sees over 1 million internal and international users. This makes the company another value facilitator following its recent transits.<\/p>\n
With Meitu joining the queue of public firms that are massively acquiring crypto, it has emerged as the latest tech company dubbed the “Asian MicroStrategy”.<\/p>\n
Meitu considers holding cryptocurrencies to be a better alternative to holding fiat. It noted that its acquired coins, (BTC and ETH) are prone to price fluctuation, thus forecasting that it would keep appreciating in the near future.<\/p>\n
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The company cited its opinion saying,<\/p>\n