Why is China’s Photo enhancer app Meitu Inc investing in Ether?

As the cryptocurrency boom continues, Bitcoin is not the only blockchain to gain some traction. China’s beauty photo enhancer app Meitu Inc has invested $22.1 million into buying 15,000 units of ether, the 2nd largest cryptocurrency. Meitu Inc was Hong Kong’s largest IPO in 2016 and with a crypto enthusiast chairperson, Cai Wensheng. It’s no surprise that the company is one of the first to invest in crypto, it has sectioned $100 million of funds to invest in crypto for portfolio diversification reasons.

 


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