Meitu CEO: Buying Cryptocurrency as an Investment, Earned 570 Million Yuan After Selling at the End of Last Year

According to a report by Jinse Finance, Meitu CEO Wu Xinhong stated in an interview with LatePost that he does not want to comment on cryptocurrency now because it is a thing of the past. At the time, buying cryptocurrency was just considered an investment, and it indeed yielded a good return on investment. He voted in favor of it on the board, and at the end of last year, sold all the cryptocurrency holdings, earning 570 million yuan, with 80% of the profits distributed to shareholders. However, if he could go back in time, he might prefer to use the money to find some good teams that could synergize with the business. This successful investment brought more troubles; sometimes, even when performance had clearly improved, the stock price would immediately drop when Bitcoin plummeted, but when Bitcoin rose, Meitu's stock price did not increase.