There's A Chinese Firm That is Buying More Bitcoin

Chinese software designer Meitu stated it bought 175.6 bitcoin (BTC, +2.75%) for ten dollars million, bringing its total holdings of the cryptocurrency to over 940 coins thursday.

The Hong Kong Stock Exchange-listed company has spent $100 million in ether and bitcoin(ETH, +4.19%) jobs since adopting a “cryptocurrency investment plan” in early March.

The business is part of a wider trend of publicly traded organizations diversifying bitcoin during the coronavirus pandemic with their money treasury.
Notably, Meitu, which also owns ETH, said it really is crypto that is buying prep for a “foray to the blockchain industry.”

Thursday Meitu held 31,000 ETH and over 940 BTC. This has invested approximately the quantity that is exact same both cryptos, although the ETH position, at nearly $64 million, ended up being worth more at press time.