[vc_row][vc_column offset=”vc_col-lg-9 vc_col-md-9″ css=”.vc_custom_1452702342137{padding-right: 45px !important;}”][vc_custom_heading source=”post_title” use_theme_fonts=”yes” el_class=”no_stripe”][stm_post_details][vc_column_text css=”.vc_custom_1615405152647{margin-bottom: 20px !important;}”]Meitu, a major Chinese tech company, announced yesterday that it has bought $40 million worth of crypto – $22 million in ether (15,000 ETH) and $17.9 million in bitcoin (380 BTC).

 

 

 

Meitu is a Hong Kong-listed smartphone manufacturer and selfie app software company with a market cap of $11.76 billion.

 

In a statement regarding the purchase, the company said its board believes blockchain has the potential to disrupt the finance and technology sectors, noting that “the blockchain industry is still in its early stage, analogous to the mobile internet industry in circa 2005.”

 

It added that it could also choose to use Ethereum in its apps, as the Ether purchased would “become the gas reserve for the Group’s potential dAPP(s) to consume in the future, as well as being used as consideration for investing in blockchain-based projects that take Ether as consideration.”

 

MicroStrategy buys another $10m in bitcoin

 

MicroStrategy’s bitcoin-buying spree is clearly far from over, with the firm buying a further $10 million in bitcoin last Thursday. The purchase brings its total BTC holdings up to $4.4 billion (~91,064 BTC). It’s paid an average of around $48,888 per coin.

 

CEO Michael Saylor said in a statement: “We will continue to pursue our strategy of acquiring bitcoin with excess cash and we may from time to time, subject to market conditions, issue debt or equity securities in capital raising transactions with the objective of using the proceeds to purchase additional bitcoin.”[/vc_column_text][/vc_column][vc_column width=”1/4″ offset=”vc_hidden-sm vc_hidden-xs”][stm_sidebar sidebar=”527″][/vc_column][/vc_row][vc_row full_width=”stretch_row” css=”.vc_custom_1459505959648{margin-bottom: -60px !important;}” el_class=”third_bg_color”][vc_column][vc_cta h2=”Looking for a First-Class Business Plan Consultant?” h2_font_container=”font_size:20px|color:%23002e5b|line_height:24px” h2_use_theme_fonts=”yes” shape=”square” style=”flat” add_button=”right” btn_title=”get a quote” btn_style=”flat” btn_color=”theme_style_2″ btn_align=”right” btn_i_align=”right” btn_i_icon_fontawesome=”fa fa-chevron-right” use_custom_fonts_h2=”true” btn_add_icon=”true” btn_link=”url:%23||” el_class=”third_bg_color” css=”.vc_custom_1540891893763{margin-bottom: 0px !important;}”][/vc_cta][/vc_column][/vc_row]