Hong-Kong tech company Meitu has taken the total value of its cryptocurrency holdings to approximately $100 million, after the firm disclosed the purchase of an additional $10 million worth of Bitcoin (BTC) on April 8.
Meitu HK, the wholly-owned Hong-Kong subsidiary of Meitu Inc (incorporated in the Cayman Islands), acquired 175.67798279 units of Bitcoin for a combined price of $10 million, implying a purchase price of around $57,000 per coin. The purchase was reportedly made using existing cash reserves, based on spot prices on the open market.