Tuesday, January 31, 2023
BitWolf
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices
No Result
View All Result
No Result
View All Result
BitWolf

Meitu bears loss of more than $43 million in cryptocurrency investment

bitwolf by bitwolf
September 2, 2022
in Cryptocurrency
0 0
0
Home Cryptocurrency


Hong Kong expertise firm Meitu reported near $100 million in cryptocurrency holdings in April, 2021. Nevertheless, with the beginning of the bear market, the expertise agency made losses value half the valuation of its cryptocurrency holdings, as reported by Cointelegraph. 

On the premise of data by Cointelegraph, by an area media report, Meitu reported losses over 300 million yuan ($43.4 million) on its cryptocurrency holdings. As per a monetary submitting, it was revealed that the loss has greater than doubled from the final quarter, as was anticipated by the agency. The expertise firm stated that its cryptocurrency holding deposits might impact the online lack of the corporate by the top of first half of the yr.

As per Cointelegraph, by a July alternate submitting, Meitu reportedly had cryptocurrency holdings value 940 Bitcoin (BTC) and 31,000 Ether (ETH), purchased for $49.5 million and $50.5 million, respectively. Web cryptocurrency investments of the corporate was reported to be near $100 million, and the agency misplaced almost half of the valuations of its funding by Q2, 2022, with regard to the present downturn in cryptocurrency market.

Furthermore, Cointelegraph famous that other than Meitu, a cryptocurrency firm investing in Bitcoin, sustained losses on cryptocurrency investments value greater than $900 million on its BTC holdings in Q2, 2022. Michael Saylor, co-founder, MicroStrategy, emphasised the usage of BTC as a treasury reserve for alternative of part of the US greenback. The thought obtained consideration on account of BTC reaching new all-time excessive each month, and firms similar to Tesla, SpaceX, and over a reported dozen public firms joined the initiative. Nevertheless, Bitcoin’s worth has seen a fall by over 70% from its high and is presently traded at one-third of its all-time excessive worth.

Going by Cointelegraph’s official web site, based in 2013, Cointelegraph is the digital media useful resource protecting information on blockchain expertise, cryptocurrency property, and monetary expertise (fintech) traits.

(With insights from Cointelegraph)

Additionally Learn: Cryptocurrency based Tether asks for removal of Roche Freedman as counsel

Comply with us on Twitter, Facebook, LinkedIn

!perform(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=perform(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.model=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, doc,’script’,
‘https://join.fb.internet/en_US/fbevents.js’);
fbq(‘init’, ‘444470064056909’);
fbq(‘observe’, ‘PageView’);



Source link

Related

Tags: bearsCryptocurrencyinvestmentlossMeitumillion
ShareTweetShare
bitwolf

bitwolf

Next Post
How MetaCryp and Avalanche are Solving Blockchain-related Problems – CryptoMode

How MetaCryp and Avalanche are Solving Blockchain-related Problems – CryptoMode

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

  • Trending
  • Comments
  • Latest
Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

Bitcoin Holds Above $17K Despite DCG Uncertainty – CoinDesk

January 10, 2023
Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

Bitcoin community not happy with Peter Zeihan’s criticisms on Joe Rogan podcast

January 10, 2023
MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

MULN Stock: Mullen Is the New Dogecoin… Without Any of the Fun

January 22, 2023
Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

Why Polygon could play a key role in mass blockchain adoption despite MATIC’s…

January 10, 2023
Trezor and Wasabi Join Forces To Make Bitcoin More Private

Trezor and Wasabi Join Forces To Make Bitcoin More Private

5
Bitcoin could become the foundation of DeFi with more single-sided liquidity pools

Bitcoin could become the foundation of DeFi with more single-sided liquidity pools

1
DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

DOGE Proponents Express Hope And Concerns Related To Dogecoin-Ethereum Bridges

0
Petrousus Token Set to Top the Cryptocurrency Market Like Uniswap and Solana

Petrousus Token Set to Top the Cryptocurrency Market Like Uniswap and Solana

0
How Bitcoin mining saved Africa’s oldest national park from bankruptcy

How Bitcoin mining saved Africa’s oldest national park from bankruptcy

January 31, 2023
How the metaverse and blockchain accelerates economic … – e27

How the metaverse and blockchain accelerates economic … – e27

January 31, 2023

Local group uneasy about cryptocurrency mining centers in Nebraska – fox42kptm.com

January 31, 2023
Ordinals Launches NFTs on Bitcoin, Unsurprisingly Sparking Controversy

Ordinals Launches NFTs on Bitcoin, Unsurprisingly Sparking Controversy

January 31, 2023

Recent News

How Bitcoin mining saved Africa’s oldest national park from bankruptcy

How Bitcoin mining saved Africa’s oldest national park from bankruptcy

January 31, 2023
How the metaverse and blockchain accelerates economic … – e27

How the metaverse and blockchain accelerates economic … – e27

January 31, 2023

Local group uneasy about cryptocurrency mining centers in Nebraska – fox42kptm.com

January 31, 2023

Categories

  • Bitcoin
  • Blockchain
  • Cryptocurrency
  • Dogecoin
  • Ethereum
  • Litecoin
  • Market & Analysis
  • Nft & Metaverse
  • Solana
  • Uncategorized

Tags

Big Binance Bitcoin Blockchain BNB BTC Cardano Coin Cointelegraph crypto Cryptocurrency Data Digital DOGE Dogecoin ETH Ethereum Exchange eyes FTX Heres Inu Investors Latest Litecoin LTC Magazine market merge News NFT NFTs price rally Shiba SOL Solana Today token Top Trading Tweet Web3 Week XRP

© 2022 BitWolf All Rights Reserved

No Result
View All Result
  • Home
  • Cryptocurrency
  • Blockchain
  • Nft & Metaverse
  • Market
  • Bitcoin
  • Ethereum
  • More
    • Solana
    • Litecoin
    • Dogecoin
  • Live Prices

© 2022 BitWolf All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In