In Spring of 2021, App Developer Acquires 940.89 BTC and 31,000 ETH

In spring of 2021, the app developer acquired 940.89 BTC and 31,000 ETH.

Meitu, a Hong Kong-listed software company, may have lost from RMB 274.9 million to RMB 349.9 million (US$41.1 million to $52.3 million) in the first half of 2022, mostly due to a drop in the value of its crypto holdings.

  • The company's losses increased sharply, rising from 99.6% to 154.1%, as compared to the same period last year, according to a filing with the Hong Kong Stock Exchange on July 1.
  • Meitu, a Cayman-islands based company, is known in China for its AI-powered face beautification app that is synonymous with the company.
  • In June, the price of major cryptocurrencies dropped dramatically. Bitcoin (BTC) lost almost 38% in that month, its second-largest monthly loss since it was launched in 2009.
  • Meitu acquired 940.89 BTC and 31,000 ETH in the spring of 2021. Since then, it has not made any moves to sell or buy crypto, according to the filing.