Meitu shares jump on $180 mln crypto sale amid Bitcoin rally By Investing.com
Investing.com– Shares of Chinese app operator Meitu Inc (HK:) jumped on Thursday after the company sold its entire cryptocurrency holdings, worth $180 million, to capitalize on the recent rally in digital assets.
The company disclosed that it sold 31,000 units of and 940 units of , purchased in 2021. This transaction yielded substantial gains of about $80 million, Meitu announced on Wednesday.
Following the announcement, Meitu’s Hong Kong listed stock climbed as much as 4% to HK$3.12 on Thursday.
The sale was announced just ahead of bitcoin’s milestone surge past $100,000 on Thursday. Bitcoin is trading up around 140% so far in 2024, with a bulk of its gains coming in November after Donald Trump’s presidential election…
