Surging prices, anticipation, and steady coin interest round out today’s headlines.
Meitu Buys $50 million more of Bitcoin and Ethereum
The Xiamen-based software company, Meitu, on Mar 17, bought $50 million worth of Bitcoin and Ethereum, pushing their net spending on cryptocurrencies to $90 million.
Their investment is less than two weeks after buying $40 million of ETH and BTC. The purchase is at the approval of the Board of Directors. They gave the green light for Meitu to purchase $100 million of cryptocurrencies and diversify.
However, their analysts believe ETH could be more potent than Bitcoin, given their weighting from their purchase. For their crypto investment, Meitu is now the first Asian company to hold ETH in their treasury and the first from Asia to buy BTC and ETH from their cash reserves.
MicroStrategy, a U.S.-based business intelligence firm, has been buying BTC on dips. It is now the largest public company holding over $2.1 billion of BTC.
Vignesh Sundaresan: The Pseudonymous Owner of a $69 million Beeple’s NFT
Amy Castor had earlier theorized that Vignesh could be the owner of a $69.3 million Beeple NFTs. Beeple is a graphic designer who has been posting his artwork every day for the last four years.
However, all doubts have been cleared after Vignesh, the Portkey Technologies—a consulting firm in Singapore, said he bought $69.3 million of NFTs to demonstrate that crypto can be an equalizing power. The digital piece, Everydays: The First 5000 Days, sold for $69.3 million on Mar 11. Vignesh thinks the piece would be worth $1 billion in the future, terming it as the most valuable piece of art for this generation.
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