Meitu’s Bitcoin investment is part of its asset allocation strategy, fuelled by what the company describes as a “growing momentum in the consensus-building process.” It’s got FOMO from watching insurance companies and fund managers invest in blockchain, as well as observing how corporations have added it to their treasury or accepting crypto as a form of payment.

Meitu said that it felt the time was right because traditional banks now provide trading and custody services and regulators license exchanges. Both steps boost investor confidence in cryptocurrencies, it said.

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When the stock market opens tomorrow, it’ll become clear whether Meitu’s crypto spending spree boosts investor’s confidence in the company.

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