Institutional investment and demand for Bitcoin continues and has not stopped.
Many companies continue to devote part of their funds and vault to Bitcoin, and sometimes exceed the digital currency Ethereum.
According to an official announcement, Meitu’s Miracle Vision has purchased a total of 16,000 units of Ethereum at a total price of approximately $ 28.4 million.
In addition, the same company bought 386.08 units of Bitcoin worth approximately $ 21.6 million, for a total of $ 50 million.
Combining the first and second purchases, we find that “Meitu” has $ 90 million worth of Bitcoin and Ethereum.
Meitu’s move toward investing in Bitcoin and Ethereum is taking center stage in the allocation of corporate funds towards cryptocurrencies to combat fluctuations in the valuation of fiat currencies.
On the global stage, the purchasing power of the dollar, which is the world’s reserve currency, could shrink further as the United States government plans to put forth $ 1.9 trillion in stimulus money.
Meitu’s allocation of funds to buy Bitcoin and Ethereum comes just days after its first purchase.
The company has registered itself as a potential permanent accumulator of the world’s fastest growing asset class.
Meitu prioritizes Ethereum over Bitcoin:
One notable development in cryptocurrency investment from Meitu is the prioritization of Ethereum over Bitcoin.
Unlike other well-known and publicly traded companies including Micro Strategy and Tesla which made similar purchases but focused on Bitcoin only, while Meitu’s preference for Ethereum will partially help raise the currency to the level preferred by others as an investment asset class. Institutional.
Micro Strategy owns more than $ 2 billion in cryptocurrencies, all in the form of Bitcoin.
Will other investment firms go along with Meitu and buy Ethereum as well?