Chinese selfie app operator Meitu, one of the few Hong Kong-listed companies to publicly disclose its investments in cryptocurrencies, just before the price of Bitcoin soared above US$100,000. He announced that he had sold all of his cryptocurrency holdings and made a profit of nearly $80 million.
As of December 4, Meitu has sold its crypto portfolio, which includes 940 units of Bitcoin and 31,000 units of Ether, for a profit of US$79.63 million, the company announced in a statement on Wednesday. Hong Kong-listed Meitu, which provides an app that allows users to modify their photos, announced that it purchased nearly US$100 million in the world's two largest crypto tokens in March and April 2021.
The company has been disposing of its virtual currency holdings since last month, and sold them all for a total of approximately $180 million. According to a filing with the Hong Kong Stock Exchange, Meitu no longer holds any Bitcoin or Ether.
Meitu has increased its holdings of cryptocurrencies, as crypto-friendly statements such as a promise to create a Bitcoin reserve contributed to investor enthusiasm amid a price surge following former US President Donald Trump's re-election last month. was converted into cash.
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Bitcoin’s progress towards historic US$100,000 level stalls amid caution from crypto investors
Bitcoin’s progress towards historic US$100,000 level stalls amid caution from crypto investors
The world's largest cryptocurrency has rallied more than 130% since the start of the year, topping $100,000 for the first time on Thursday morning, after President Trump selected digital asset advocate Paul Atkins to head the Securities and Exchange Commission. .
