The Chinese technology company Meitu today revealed information about the additional purchase of cryptocurrency. Meitu has invested another $28.4 million in ether and $21.6 million in bitcoin through its Singapore-based Miracle Vision division. At the beginning of the month, the company announced the purchase of bitcoin and ether for $40 million with the possibility of increasing the investment to $100 million.
In the latest notice, she described the purchase of bitcoin as part of a strategy to manage reserves, while ether is a broader plan to develop the blockchain space. Ether can be used to cover the costs associated with decentralized applications and to invest in third-party projects that accept cryptocurrency.
"The group is currently evaluating the feasibility of integrating blockchain technology into various foreign divisions, including launching decentralized applications based on Ethereum, and identifying suitable foreign blockchain projects for investment," the company wrote.
The Miracle Vision division, like Meitu itself, specializes in creating mobile applications for photo and video processing. Meitu shares are listed on the Hong Kong Stock Exchange. Together with the last round, the amount of the company's investments in cryptocurrencies reached $90 million. The assets were purchased on the public market, and all related transactions were completed on Wednesday.