Meitu increased investment in cryptocurrencies to 100 million dollars

Meitu continued to buy up key digital assets despite their peak price points.

China-based Meitu, which has previously shown a willingness to invest in bitcoins and Ethereum as they were updating historic price highs, has made another purchase of cryptocurrencies. For example, Meitu reportedly brought its investment in digital assets to $100 million by buying another 175 bitcoins, investing about $10 million in them. As a result, Meitu now has 940 bitcoins worth $49.5 million and 31,000 Ethereums, valued at $50.5 million.

Analysts point out that Meitu invests slightly more in Ethereum than in bitcoins. Recall that earlier a well-known entrepreneur Anthony Scaramucci shared his opinion that he sees great potential in Ethereum.

At the same time, he admitted that he, like some other representatives of the sphere of institutional investing, is still focused on bitcoins. As for the ETH/BTC pairing, Ethereum has potential for further price growth, but the intrigue lies in how and when it will be realized.

The interest of institutional investors in Ethereum and bitcoin is seen against the backdrop of an outflow of funds from gold-focused funds to global investors. According to JP Morgan, such an outflow since mid-October of last year was about $20 billion. At the same time during the same period of time the inflow of funds in bitcoin funds was about $ 7 billion. The bank does not exclude that there is a probability of growth in the price of bitcoin to 130 thousand dollars, provided that the volatility of the digital asset.