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Chinese app giant sells all Bitcoin ahead of $100,000 milestone
Meitu shifts focus from digital assets to expand its subscription-based media services with realized crypto gains. Photo: Reuters Key Takeaways Meitu sold 940 Bitcoin and 31,000 Ethereum for $180 million before Bitcoin reached $100,000. 80% of the proceeds from Meitu's crypto sale will be distributed as a special dividend. Chinese tech company Meitu had sold its entire crypto holdings of 940 Bitcoin and 31,000 Ethereum for $180 million, exiting the market just before Bitcoin’s surge to $100,000, according to a recent statement. The company, known for its photo editing apps, initially invested $100 million in crypto assets in March and...
Why Investors Might Like The Block Even If Bearish On Bitcoin
MIAMI, FLORIDA - JUNE 04: Jack Dorsey creator, co-founder, and Chairman of Twitter and co-founder & ... [+] CEO of Square arrives on stage at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. The crypto conference is expected to draw 50,000 people and runs from Friday, June 4 through June 6th. (Photo by Joe Raedle/Getty Images) Getty Images With bitcoin bumping up against $100,000, crypto enthusiasts are once again frothing at the mouth. The election has given a boost to crypto sponsors, miners, and owners—and anyone...
Bitcoin sees more upside above $100K driven by long-term holder dominance: CryptoQuant
Bitcoin surpasses the $100K milestone with long-term holders retaining over 14.5 million BTC, signaling sustained market confidence. Photo: Reuters Key Takeaways Bitcoin surpassed $100,000 as long-term holders control 74% of supply. Bitcoin's market dominance reaches 57%, solidifying its status as the largest crypto asset. Bitcoin broke the $100K milestone for the first time early Thursday, entering a new phase of price discovery. While Bitcoin’s price movements could trend in either direction, a CryptoQuant analyst suggests that long-term holders might be a key driver of upward momentum. According to CryptoQuant verified analyst Crazzyblockk, long-term holders (LTHs) account for over 14.5 million...
