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Chinese company buys Bitcoin – CRYPT TREND

March 8, 2021
2 Min Read

Bitcoin’s development within the enterprise world appears unstoppable. And it’s that, after Tesla, the biggest car company on this planet, purchased greater than 1.5 billion {dollars} in BTC. Increasingly corporations are analyzing following this path and investing in cryptocurrency. One thing that has already began to occur in Asia, as a result of because the Bitcoin Archive account feedback within the Tweet of the day, a Chinese company buys Bitcoin as an asset retailer of worth:

Bitcoin makes its means between companies

What for a very long time appeared loopy is now changing into a actuality. And it’s that, given the fears of a rise in inflation in america resulting from COVID-19. Immediately, corporations all over the world are on the lookout for an asset strong sufficient to take a position their earnings, with out them being consumed by inflation.

And more and more, this asset is Bitcoin. Particularly after MicroStrategy’s funding in BTC simply earlier than the beginning of its large bull rally translated into multi-million greenback earnings for the enterprise software program company. A end result desired by many corporations in all nations.

This contains, after all, China. The place the listed company, Meitu, has determined to take a position 17.9 million {dollars} within the buy of 379 Bitcoins. A small determine that has mixed with $ 22 million invested in Ethereum. However which opens the doorways for the entry of BTC to the Asian market, after having made nice advances amongst US corporations, being the primary Chinese company to purchase Bitcoin.

“Meitu has turn out to be the primary publicly traded Chinese company to purchase $ 17.9 million price of Bitcoin.”

Thus, within the coming years we may start to see the curious case of Chinese and American corporations competing to accumulate as a lot BTC as doable for his or her reserves. Which, on the finish of the day, continues to solidify the place of cryptocurrencies within the worldwide monetary market, as reserve belongings of worth corresponding to gold.

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Donna Miller

Donna is one of the oldest contributors of Gruntstuff and she has a unique perspective with regards to Science which makes her write news from the Science field. She aims to empower the readers with the delivery of apt factual analysis of various news pieces from Science. Donna has 3.5 years of experience in news-based content creation, and she is now an expert at it. She loves journalism, and that is the reason, she moved from a web content writer to a News writer, and she is loving it. She is a fun-loving woman who has very good connections with every team member. She makes the working environment cheerful which improves the team’s work productivity.

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