Meitu Sells $180 Million of Cryptocurrencies

MT Newswires Live12-06

Meitu (HKG:1357) divested all of its cryptocurrency investments worth $180 million, according to a Wednesday filing with the Hong Kong Exchange.

The sale came just before Bitcoin topped $100,000.

The selfie app operator sold its 940 Bitcoin units worth $80 million and 31,000 units of Ether worth $100 million, the filing said.

Meitu raked in $79.6 million in gains from the sale of the cryptocurrencies, the filing said.

Proceeds from the sale will be used to fund the payment of its special dividend and for working capital.

The selfie app is among the few Hong Kong-based companies to disclose its cryptocurrency holdings, according to a report by the South China Morning Post on Thursday.

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