A Chinese company buys $ 40 million worth of Bitcoin and Ethereum
"Meitu", a Chinese company specializing in providing image editing and sharing programs for smartphones, announced that it has purchased 15,000 units of ETH, equivalent to $ 22.1 million, and 379.12 units of Bitcoin, or BTC, or about $ 17.9 million. For a total of $ 40 million.
This deal was done through an investment plan in digital currencies that was previously approved by the company's board of directors.
Currently, cryptocurrency purchases have a budget of $ 100 million.
In its official announcement, Meitu stated that Bitcoin is a good value alternative with multiple functions and an effective way to hedge against depreciation of fiat currencies resulting from severe increases in the money supply of central banks.
According to what was stated in the official company statement, the following:
Bitcoin is a cryptocurrency that was launched more than 10 years ago, and it has many features that enable it to be a good alternative store of value, such as:The limited supply, the possibility of exchanging them with paper money or goods and services, the possibility of their transfer, and their potential to act as an effective hedge against the depreciation of fiat currencies due to the massive increase in the money supply by central banks around the world.
The demand for Bitcoin by the Chinese company "Meitu" came after many American companies also came to Bitcoin, such as "Micro Strategy", "Square" and "Tesla" ...