1 August 2026
Software Firm Meitu Adds $22M ETH, $17.9M BTC to Its Treasury
Meitu- a smartphone manufacturer and selfie app software company that has been listed on the Hong Kong Stock Exchange since 2016, recently disclosed its holding over $40 million worth of the world’s largest cryptocurrencies.
This Chinese photo editing app is popular among young millennials seeking to make their pictures more beautiful. On March 5, 2021, Meitu announced its purchase of 15,000 ETH and 379.1214267 BTC in open market transactions at an aggregate consideration of approximately US$22.1 million and US$17.9 million, respectively.
This purchase was under the terms of a previously board-approved cryptocurrency investment plan that allowed the company to buy up to $100 million of crypto, financed by cash reserves and other remaining proceeds of its 2016 IPO.
As per official figures, last year, Meitu made a yearly profit of over $107 million by selling advertisement spots on its app. The firm has no other significant profit sources, but the crypto purchase could be a means to that.
The 8-year old company also stated they expect cryptocurrencies to increase in value in the coming times. They further explained their move to branch away from holding cash as an asset:
“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.”
Besides, the company said that cash was subject to depreciation due to an aggressive increase in money supply by central banks globally in their treasury management. This references the rampant and ongoing money printing done by central governments in the past year. Market observers say it would lead to inflation and have a drastic effect on the overall economy.
Several companies and investors are turning towards cryptocurrencies worldwide to protect from a bleak economic outlook and fears of overinflation in the coming years. And while most businesses have stuck with Bitcoin. Meitu’s purchase shows firms are considering Ethereum also.
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