Investments in bitcoin brought Meitu a $ 17.3 million loss, while its position on ether increased by $ 14.7 million, according to the latest financials of the Hong Kong company.
The developer of popular photo editing applications in China invested $ 100 million in bitcoin and ether in March-April this year, collecting 940.89 BTC for $ 49.5 million and 31,000 ETH for $ 50.5 million under its management. the last document is given on the basis of the exchange rate dated June 30, when the company summed up the half-year results in accordance with international financial reporting standards.
By the end of the second quarter, the size of Meitu’s position in Bitcoin was $ 32.2 million, and on air – $ 65.2 million. The net loss was equal to $ 2.6 million. Changes in the size of positions before they were fixed were accounted for as “loss from asset depreciation “And” revaluation gains “respectively. Meitu emphasizes that he has no plans to divest his crypto assets in the foreseeable future.
“The board of directors believes that the blockchain industry is still in its early stages of development, and cryptocurrencies have significant potential for growth in the long term,” the document says.
Taking into account the revaluation on the day of reporting on July 6, Meitu’s position turned out to be in positive territory by $ 5.2 million, after the value of its BTC increased to $ 32.8 million, and ETH – to $ 72.4 million.
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