Chinese tech company Meitu announced today that it is bitcoin (BTC) in ethereum (ETH) has bought. The investment stems from the company’s belief that blockchain and crypto can have a huge impact on the future.
Meitu is best known for its MeituPic application, which is especially popular in China. With the app, photos can be edited with filters, collages and the like. Nearly half a billion people are reported to be using the application.
The company bought bitcoin and ethereum last Friday as part of a broader cryptocurrency investment plan. To be precise, it concerns 15,000 ethereum and 379.1 bitcoins. The total investment is worth $ 40 million. The plan is to eventually invest $ 100 million in crypto.
In a Press release can be read why the company bets heavily on the two cryptocurrencies:
“The board believes that blockchain technology has the potential to disrupt existing financial and technology industries, much like how mobile internet has disrupted the PC internet and many other offline industries. The board believes that the blockchain industry is still in its infancy, analogous to the mobile internet industry around 2005. ”
Until now, it was mainly companies from the United States that slowly started to buy bitcoin. MicroStrategy was the first American publicly traded company to bet big. Tesla followed in February with an investment of $ 1.5 billion.
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