In a bold move that signals growing institutional confidence in digital assets, Meitu Company (1357.HK) has significantly expanded its cryptocurrency portfolio. On March 17, the company announced that its wholly owned subsidiary, Miracle Vision, purchased an additional 386.08 BTC and 16,000 ETH, spending approximately $21.6 million** and **$28.4 million respectively. This brings Meitu’s total investment in crypto to nearly $90 million, reinforcing its position as one of the most active corporate investors in blockchain assets.
The latest acquisitions were made at average prices of $55,900 per Bitcoin** and **$1,775 per Ethereum, reflecting a strategic buy-in during a period of short-term price consolidation. Just ten days prior, Meitu had already invested around $40 million to acquire 15,000 ETH and 379.12 BTC at lower averages—$1,473 for ETH and $47,200 for BTC. The upward shift in purchase price highlights Meitu’s long-term conviction despite market volatility.
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Strategic Expansion Amid Market Fluctuations
Bitcoin had recently surged past $61,000 before pulling back to the $53,000–$55,000 range at the time of Meitu’s announcement. Ethereum also showed strong momentum, trading above key resistance levels amid growing adoption of decentralized finance (DeFi) and non-fungible tokens (NFTs). Despite the short-term dip from peak levels, Meitu’s decision to buy high suggests a macro-level outlook focused on digital asset scarcity, inflation hedging, and blockchain integration potential.
With cumulative spending reaching $90 million, Meitu has utilized less than half of its approved $100 million crypto investment budget—authorized by its board for purchases funded through existing cash reserves. This leaves room for further accumulation, especially if market conditions present favorable entry points.
Corporate Vision: From Image Apps to Blockchain Innovation
Miracle Vision, the Singapore-based subsidiary executing these trades, is not just a financial arm but a strategic vehicle for Meitu’s broader ambitions. Registered in Singapore, it operates across mobile app development, digital advertising, product marketing, and investment holding. Its pivot toward crypto signals Meitu’s intent to evolve beyond photo-editing apps into the emerging Web3 ecosystem.
While the company emphasizes that current activities are limited to investment, it has publicly expressed interest in exploring deeper blockchain industry participation. This aligns with long-standing trends in tech innovation, where early adopters leverage digital assets as gateways to decentralized infrastructure.
Leadership Ties to the Crypto Ecosystem
Meitu’s foray into crypto is no surprise given the background of its chairman, Cai Wensheng, a well-known angel investor with deep roots in the blockchain space. Cai has been an early backer of major players like OKX (formerly OKEx) and was previously linked to investments in MXC Exchange (Maiyi Cai) and FCoin through his firm Longling Investment.
Although rumors once suggested Meitu launched its own cryptocurrency—BEC ("Mei Coin")—the company swiftly denied any official affiliation. Nevertheless, Cai’s personal involvement underscores a leadership team that understands the transformative potential of decentralized technologies.
This blend of corporate strategy and founder expertise positions Meitu uniquely among Asian tech firms venturing into digital assets—not merely as a passive investor but as a potential future builder within the blockchain economy.
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Market Reaction and Investor Sentiment
Following the announcement, Meitu’s stock traded at HK$2.91, slightly down from its HK$3.10 opening on March 8. While direct correlation between share price and crypto holdings remains speculative, the market appears cautiously optimistic. Analysts note that Meitu’s balance sheet strength allows it to absorb volatility while positioning for long-term gains.
Historically, Bitcoin’s trajectory since early 2021 has been nothing short of meteoric: breaking $30,000 in January, surpassing $40,000 within a week, hitting $50,000 by mid-February, and peaking at $60,000 on March 13—just days before Meitu’s latest purchase. The current retracement offers strategic buying opportunities for institutions confident in the asset’s store-of-value narrative.
Frequently Asked Questions
Q: How much did Meitu spend on Bitcoin and Ethereum?
A: Meitu spent approximately $21.6 million on 386.08 BTC and $28.4 million on 16,000 ETH in its latest purchase, bringing total crypto investments to about $90 million.
Q: What was the average purchase price for Bitcoin and Ethereum?
A: The average cost was $55,900 per Bitcoin and $1,775 per Ethereum in this round of buying.
Q: Does Meitu plan to invest more in cryptocurrency?
A: Yes—Meitu has a board-approved budget of up to $100 million for crypto investments and has so far used less than 90% of that limit.
Q: Is Meitu developing its own cryptocurrency?
A: No official project exists. Past claims about “BEC” or “Mei Coin” being a Meitu-backed token have been debunked by the company.
Q: Why is Meitu investing in crypto?
A: The company views digital assets as part of a forward-looking treasury strategy, offering diversification, inflation protection, and alignment with future blockchain-based technologies.
Q: Where is Miracle Vision based?
A: Miracle Vision is registered in Singapore and handles Meitu’s investment activities alongside core operations in app development and digital marketing.
Looking Ahead: A Blueprint for Institutional Adoption?
Meitu’s phased approach—starting with treasury allocation before potentially moving into operational blockchain integration—mirrors strategies adopted by U.S.-based firms like MicroStrategy and Tesla. However, unlike some Western counterparts focused solely on Bitcoin as a reserve asset, Meitu is diversifying across both BTC and ETH, recognizing Ethereum’s utility beyond pure value storage.
As global interest in decentralized applications grows, companies like Meitu may find opportunities to integrate smart contracts, NFTs, or tokenized user incentives directly into their consumer platforms. Such moves could bridge traditional tech services with next-generation digital economies.
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With over $90 million already deployed and a clear mandate for further investment, Meitu stands at the forefront of Asia’s corporate crypto movement—a case study in how legacy tech players can adapt to disruptive financial paradigms.
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