Meitu Records $14.7M Gains From Ethereum, Loses $17.3M In Bitcoin
Hong Kong company Meitu in an announcement on July 6 released the returns on its crypto assets; Bitcoin and Ethereum. The announcement made references to previous announcements from the company. These announcements consisted of those made when the company purchased its digital assets. Related Reading | Bitcoin Volatility Drops To Lowest Level Since Bull Run Began […]
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Meitu has reported losses of $17.3 million on its Bitcoin holdings, with its Ether investment having gained $14.7 million despite the recent crypto downturn. Hong Kong tech company Meitu has taken a $17.3 million hit on its Bitcoin (BTC) holdings — but on the upside, its Ether (ETH) holdings have gained $14.7 million. The developer of popular Photoshop-style apps spent a total of $100 million on BTC and ETH between March and April this year, acquiring a total of 940.89 BTC for $49.5 million, and 31,000 ETH for $50.5 million. According to a June 6 voluntary announcement from Meitu, the fair....
The China-based smartphone and internet app maker Meitu has announced the acquisition of $10 million worth of bitcoin for its treasury after the firm purchased digital assets two times prior last month. The company’s cryptocurrency holdings now stack up to $100 million worth of ethereum and bitcoin. Meitu Stacks Another 175 Bitcoin, $100 Million in Crypto Recorded on its Balance Sheet Meitu has revealed another cryptocurrency purchase after it announced two purchases last month. According to the announcement, on April 8, 2021, Meitu HK which is listed on the Hong Kong stock exchange,....
During the crypto bull run last year, Bitcoin hit the $50,000 mark for the first time and exceeded many expectations. As a result, several investors purchased bitcoin at that time. The Hong Kong Tech giant Meitu was one of the companies that acquired bitcoin as a treasury reserve. As the market hit a decline, the tech giant suffers impairment loss. This is a type of loss where the value of an asset falls below the investment carrying value. Related Reading: A Date For The Mt. Gox Repayment Is Set, How Will This Affect Bitcoin? Bitcoin has lost over 50% of its value in the second quarter of....
Meitu was one among many public companies that purchased Bitcoin to hold as a treasury reserve during the peak of the bull run last year and now joins the list of companies that have suffered heavily due to the bear market. Hong Kong tech giant Meitu made headlines in April last year after it reported nearly $100 million in crypto holdings. However, with the advent of the bear market, the tech firm has lost nearly half of the valuation of its crypto holdings.According to a local media report, Meitu reported an impairment loss of over 300 million yuan, approximately $43.4 million, on their....
One of China’s top internet app makers, Meitu Inc., has purchased more bitcoin for its treasury. The company now holds about $90 million in cryptocurrencies. Meitu is listed on the Hong Kong stock exchange and its flagship app has more than 1 billion users worldwide. Chinese Publicly Traded Company Increases Bitcoin Holdings in Its Treasury Meitu Inc. announced Wednesday that its wholly owned subsidiary Miracle Vision has acquired more bitcoin and ether in open market transactions. This is the second purchase announcement by the company. Meitu is listed on the Hong Kong stock....