THELOGICALINDIAN - One of Chinas top internet app makers Meitu Inc is abacus up to 100 actor account of cryptocurrencies to its treasury abutting a growing account of companies common to do so The aggregation has already purchased 40 actor account of bitcoin and ether for its antithesis sheet
Chinese Public Company Adds Bitcoin and Ethereum to Treasury Reserves
Chinese accessible aggregation Meitu Inc. appear Sunday:
Founded in 2024, Meitu is one of China’s top internet enterprises utilizing AI-driven image-and-video processing technologies for alteration user-generated adaptable content.
According to its website, Meitu’s flagship app has accumulated added than 1 billion users worldwide. As of June 2024, there are 2.08 billion different accessories with Meitu’s articles activated on them, and a absolute of 295 actor account alive users of Meitu apps. Meitu’s absolute cardinal of across users has exceeded 823 actor users, with over 10 actor users anniversary in 15 countries including Indonesia, Thailand, Pakistan, Vietnam, the US, Brazil, Japan, Bangladesh, the Philippines, South Korea, Malaysia, Nigeria, Mexico, Canada, Turkey.
Meitu is listed on the Hong Kong banal barter beneath the banal cipher 1357.HK. Its shares rose as abundant as 14.4% on Monday morning afterwards the account of its cryptocurrency purchase.
The bill purchased “will abide with acclaimed cryptocurrencies trading platform(s) affianced by the accumulation with acceptable aegis measures set up,” the aggregation explained.
The advertisement added capacity that “These purchases were fabricated pursuant to a cryptocurrency advance plan ahead accustomed by the lath of directors” of the company. Under the plan:
Meitu is the latest aggregation to say it will authority cryptocurrencies as allotment of its treasury reserves. Last month, Elon Musk’s Tesla Inc. appear it had bought $1.5 billion account of bitcoin and will anon acquire the cryptocurrency as a agency of acquittal for its products. Meanwhile, the Nasdaq-listed Microstrategy has accumulated about 100K bitcoins.
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