Bitcoin Breaks Past $50,000 on Sunday, Meitu Buys Crypto for Corp Treasury

Posted on 03/07/2021

Bitcoin is at around US$ 50,659.15. Bitcoin is the world’s biggest and best-known cryptocurrency. Bitcoin’s peak this year was US$ 58,354.14 on February 21, 2021.

Hong Kong-listed Meitu Inc. is a Chinese tech company out of Xiamen that makes image and video processing software. Meitu purchased US$ 22 million in ether (ETH) and US$ 17.9 million of Bitcoin for its corporate treasury. Meitu said it bought 15,000 ETH and 379.1 BTC in open market transactions on March 5, 2021. The purchases were under the terms of a previously board-approved cryptocurrency investment plan that allows Meitu to put up to US$ 100 million of cryptocurrencies.

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