Chinese software developer Meitu set to sell BTC and ETH holdings
The Hong Kong-listed company seems to be no longer interested in crypto as AI-related products generated more returns. Meitu, a Chinese software developing company, is reportedly ready to sell its cryptocurrency holdings “at the appropriate time,” roughly two years after the firm started holding Bitcoin (BTC) and Ethereum (ETH) on its balance sheet. A senior investor relations manager at Meitu told the Headline Daily newspaper in a commentary that the firm’s recent profits were mainly attributed to the subscription model of its mobile applications as well as AI-based products. As for the cryptocurrency investment, Meitu is no longer focused on cryptocurrencies and “may sell them at the appropriate time,” according to a rough translation. You might also like: China sentences former party official to life in prison for enabling crypto mining Meitu first entered the crypto market a few years ago, when the firm purchased BTC and ETH worth aroun...