CandleFocus Chinese app giant sells all Bitcoin ahead of $100,000 milestone
2024-12-05
Author: Content Editor
Chinese tech company Meitu has sold its entire cryptocurrency holdings of 940 Bitcoin and 31,000 Ethereum for $180 million, just before Bitcoin surged to $100,000. The company initially invested $100 million in crypto assets earlier this year and sold off half of its holdings last month, followed by the rest in December. Meitu plans to distribute 80% of the proceeds as a special dividend to shareholders and will use the remaining funds to expand its core photo, video, and design product offerings. The company stated that it is shifting its focus to its core business and is taking advantage of the gains from the cryptocurrency sales.
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