Hong Kong-listed software firm Meitu has announced another crypto investment, buying an additional 16,000 ETH (around $28.4 million) and 386.086 Bitcoins ($21.6 million approximately).
On March 5, Meitu bought 15,000 ETH ($22.1 million) and 379 BTC ($17.9 million). The company now holds $50.4 million in ether and $39.5 million in bitcoin, bringing its combined crypto holdings to the equivalent of a little over $90 million.
“The Board believes cryptocurrencies have ample room for appreciation in value and by allocating part of its treasury in cryptocurrencies can also serve as a diversification to holding cash”, the company said.
The purchases were made under the terms of a board-approved investment plan that allows the company to invest in up to $100 million in cryptocurrencies.
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