{"id":5898,"date":"2021-03-08T18:16:59","date_gmt":"2021-03-08T18:16:59","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/?p=5898"},"modified":"2021-03-08T18:14:34","modified_gmt":"2021-03-08T18:14:34","slug":"chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying","title":{"rendered":"Chinese tech firm becomes pioneer in cryptocurrency buying"},"content":{"rendered":"

Africa-Press<\/a> – South-Africa<\/a>. <\/strong><\/span>As the booming world of cryptocurrency continues to make headlines and attract big shot investors within the corporate world, Chinese app Meitu recently bought $40 million worth of bitcoin and ethereum.<\/p>\n

According to CNBC News the Chinese tech company bought $22.1 million worth of ether and $17.9 million worth of bitcoin on March 5.<\/p>\n

Although the likes of Elon Musk\u2019s company Tesla and Jack Dorsey\u2019 Square made their cryptocurrency purchase before Meitu, the Chinese appmaker appears to be the first major company to buy ether, a cryptocurrency that works on the ethereum blockchain.<\/p>\n

Meitu said in a statement that \u201cblockchain technology has the potential to disrupt both existing financial and technology industries, similar to how mobile internet has disrupted the PC internet and many other offline industries.\u201d<\/p>\n

\u201cThe Board believes cryptocurrencies have ample room for appreciation in value and by 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,\u201d Meitu said.<\/p>\n

\u201cThe move demonstrates to investors that Meitu has the vision and determination to embrace technological evolution, and hence preparing its foray into the blockchain industry,\u201d Meitu Added.<\/p>\n

Meitu is not the first tech company to make its mark within the cryptocurrency space as it joins the likes of Tesla and Square in purchasing bitcoin.<\/p>\n

In February Square bought $170 million worth of bitcoin and Tesla has bought $1.5 billion worth of bitcoin.<\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – South-Africa. As the booming world of cryptocurrency continues to make headlines and attract big shot investors within the corporate world, Chinese app Meitu recently bought $40 million worth of bitcoin and ethereum. According to CNBC News the Chinese tech company bought $22.1 million worth of ether and $17.9 million worth of bitcoin on […]<\/p>\n","protected":false},"author":84,"featured_media":5897,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,8,9],"tags":[274,315,275],"class_list":["post-5898","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-homepage-english","category-miscellaneous","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"\nChinese tech firm becomes pioneer in cryptocurrency buying - South Africa<\/title>\n<meta name=\"description\" content=\"As the booming world of cryptocurrency continues to make headlines and attract big shot investors within the corporate w ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Chinese tech firm becomes pioneer in cryptocurrency buying\" \/>\n<meta property=\"og:description\" content=\"As the booming world of cryptocurrency continues to make headlines and attract big shot investors within the corporate w ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying\" \/>\n<meta property=\"og:site_name\" content=\"South Africa\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2021-03-08T18:16:59+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/03\/img-60466957755c2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"720\" \/>\n\t<meta property=\"og:image:height\" content=\"404\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"Chinese tech firm becomes pioneer in cryptocurrency buying\",\"datePublished\":\"2021-03-08T18:16:59+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying\"},\"wordCount\":256,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/south-africa\/sites\/31\/2021\/03\/img-60466957755c2.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-South-Africa\",\"South-Africa\"],\"articleSection\":[\"all news\",\"homepage-english\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying\",\"url\":\"https:\/\/www.africa-press.net\/south-africa\/all-news\/chinese-tech-firm-becomes-pioneer-in-cryptocurrency-buying\",\"name\":\"Chinese tech firm becomes pioneer in cryptocurrency buying - 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