Shares of Hong Kong-listed Chinese photo editing app Meitu Inc rose as much as 14.4per cent on Monday morning after the company said it had bought US$40 million of cryptocurrencies.
The beauty-focussed technology firm said in a Sunday evening exchange filing that it bought US$22.1 million worth of Ether, the world's second-largest cryptocurrency by market capitalisation, and US$17.9 million worth of Bitcoin on March 5.Meitu is the latest company to say it will hold cryptocurrencies as part of its treasury operations. Last month, Tesla Inc revealed it had bought US$1.5 billion of Bitcoin, which sent the token's price up 20per cent.
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