Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury

Software Firm Meitu Buys $22M of Ether, $17.9M Bitcoin for Its Treasury

Hong Kong-listed Meitu Inc. , which makes image and video processing technologies, said it had purchased $22 million in ether (ETH) and $17.9 million of bitcoin, marking the first time a firm has made a major purchase of ETH for its treasury.

  • Meitu said it bought 15,000 ETH and 379.1 BTC in open market transactions on March 5.
  • The purchases were under the terms of a previously board-approved cryptocurrency investment plan that allows the company to put up to $100 million of crypto, financed by cash reserves other than any remaining proceeds from Meitu's IPO.
  • This story is developing.

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