On March 7, 2021, Hong Kong-listed Meitu Inc. (1357.HK) announced its acquisition of 15,000 Ethereum (ETH) and 379.12 Bitcoin (BTC) in open-market transactions, totaling approximately $22.1 million and $17.9 million, respectively.
Strategic Cryptocurrency Investment
The purchases align with the company’s board-approved cryptocurrency investment plan, which allocates up to $100 million from existing cash reserves (excluding IPO proceeds) for digital asset acquisitions.
Board’s Rationale:
- Value Appreciation: Belief in cryptocurrencies’ long-term升值空间.
- Risk Diversification: Hedge against fiat currency贬值压力 caused by global quantitative easing.
- Technological Commitment: Signal to investors about embracing blockchain innovation.
👉 Explore how top companies invest in crypto
Leadership’s Vision
Chairman Cai Wensheng publicly endorsed the move, stating:
"Meitu is advancing its blockchain strategy by holding ETH/BTC as a long-term value reserve. Being the first Hong Kong上市公司 to adopt BTC—and the first globally to treat ETH as reserve currency—is groundbreaking."
Cai’s Blockchain Advocacy:
- Since 2018, Cai has championed blockchain as a " transformative revolution."
- Historical ties include Meitu’s alleged (但否认) association with the BEC token launch via third-party partnerships.
Key Figures & Milestones
- 2018: Appointed renowned physicist Professor Shoucheng Zhang (斯坦福大学) to Meitu’s board. Zhang, a blockchain advocate, tragically passed away later that year.
- Legacy: Cai honored Zhang’s contributions to tech and academia posthumously.
FAQ Section
Q: Why did Meitu invest in Ethereum and Bitcoin?
A: To diversify assets, hedge against inflation, and position itself in blockchain technology.
Q: Is Meitu the first company to hold ETH as reserves?
A: Yes, it’s the first全球上市公司 to designate Ethereum as a monetary reserve.
Q: How does this align with Meitu’s business?
A: It reflects strategic prep for blockchain integration beyond its core photo-editing apps.
👉 Learn about corporate crypto strategies