Re <<Bitcoin>>
Am amazed and suspicious re Meitu's move
(1) Trust they got the public company regulators to sign off on booking BTC as treasury currency, rather than simply gaming it w/ quarter- and year-end derivative trades w/ some investment banking custodian
(2) Intending to use the BTC as treasury currency, meaning buying as well as selling it
The weaponisation of BTC by 1357.HK rings an alarm to its competitors and gives ideas to would-be copycats, that "buy BTC or perish"
At some juncture, as money gets printed more, perhaps gold shall also get weaponised by the corporates, say soon after Basel III implementation at the banks that says gold is money per Sense' take
Maybe BTC is not alt-gold or better-gold, but the armed recon for the gold takeover against fiats
In any case, the bugle call is calling, BTC weaponisation tee-ed up in both America and China by way of Hong Kong, and the two cannot and shall not cooperate on anything this as well as that side of 2024
IOW, we are good to go go go
finance.yahoo.com
https://news.bitcoin.com/chinese-public-company-meitu-buys-bitcoin-treasury-90-million-cryptocurrencies/
Chinese Public Company Meitu Buys More Bitcoin — Treasury Now Holds $90 Million in Cryptocurrencies
One of China’s top internet app makers, Meitu Inc., has purchased more bitcoin for its treasury. The company now holds about $90 million in cryptocurrencies. Meitu is listed on the Hong Kong stock exchange and its flagship app has more than 1 billion users worldwide.
Chinese Publicly Traded Company Increases Bitcoin Holdings in Its TreasuryMeitu Inc. announced Wednesday that its wholly owned subsidiary Miracle Vision has acquired more bitcoin and ether in open market transactions. This is the second purchase announcement by the company. Meitu is listed on the Hong Kong stock exchange under the stock code 1357.HK.
The company has bought 386.08581655 more BTC “at an aggregate consideration of approximately US$21.6 million” and 16,000 more ETH at “an aggregate consideration of approximately US$28.4 million,” the announcement details, adding:
The group has accumulated a net purchase of approximately US$90 million worth of cryptocurrencies.
“Settlement of the cryptocurrencies acquisitions took place immediately after the respective purchase orders were made and completed on March 17, 2021,” the company confirmed.
The first purchase of cryptocurrencies by the Chinese corporation was for 379.1214267 BTC at approximately US$17.9 million and 15,000 ETH at approximately US$22.1 million.
Founded in 2008, Meitu is one of China’s top internet enterprises utilizing AI-driven image-and-video processing technologies for editing user-generated mobile content. According to its website, the company’s flagship app has accumulated more than 1 billion users worldwide. As of June 2020, there are 2.08 billion unique devices with Meitu’s products activated on them, and a total of 295 million monthly active users of Meitu apps. Meitu’s total number of overseas users has exceeded 823 million users.
“The cryptocurrencies acquisitions were funded by the group’s existing cash reserves other than any remaining proceeds from the company’s initial public offering,” the announcement notes, elaborating:
The board believes cryptocurrencies have ample room for appreciation in value and allocating part of its treasury in cryptocurrencies can also serve as a diversification to holding cash (which is subject to depreciation pressure due to aggressive increases in money supply by central banks globally) in treasury management. |
