On March 18, Meitu company said that it had purchased 50 million US dollars of cryptocurrency again, accumulating nearly 90 million US dollars. The purchase of cryptocurrency is based on a cryptocurrency investment plan previously approved by the board of directors, according to which it can purchase cryptocurrency with a net amount of no more than 100 million US dollars. After the news, the stock of Meitu company rose more than 8%.

On March 7, the company announced that it had purchased 15000 units of ether currency and 3791214267 units of bitcoin in the open market on March 5. The total consideration of the two cryptocurrencies was about $22.1 million and $17.9 million respectively.

Recently, the price of bitcoin has soared so fast that it is amazing. In December 2017, the price of bitcoin soared sharply, breaking through $10000 for the first time. After breaking through a new high of $60000 on March 12 this year, it is still hovering around the price.

With the increasing upsurge of bitcoin investment, a large number of funds are waiting to enter the market. After the first bitcoin ETF fund was approved in Canada, its assets under management have reached 1 billion US dollars. On the 21st, Canada approved the second bitcoin ETF fund. In addition, this year's bitcoin boom has also attracted Musk's participation, and the CEO of the cryptocurrency exchange even boldly predicted that the price of bitcoin in the next 10 years might be as high as $1 million when he was interviewed by Bloomberg.

Supporters of bitcoin believe that the birth of bitcoin has strong feelings of free will and anarchism, which is a complaint against the current monetary order. In a cashless society with almost zero privacy, the encryption of bitcoin can even curb the embezzlement of civil liberties by mobile payment.

However, there are many voices questioning that this is just the heat of tulip today and the great bubble in human history. Roubini, known as "Dr. doomsday", also thinks that bitcoin has no monetary characteristics, it has no unit value, and it has no scale advantage and effect in payment. Although it is a payment method, it is not a meaningful currency, and its value may evaporate a lot in a very short time, for example, overnight.

With the upsurge of bitcoin investment, more and more countries are paying attention to the government and calling for the government to strengthen supervision. The first possible action is the Indian government, which proposed the cryptocurrency and the official digital currency supervision bill of 2021 at the ongoing parliamentary meeting. As part of its upcoming ban on cryptocurrency, India will take action The government is considering blocking the IP address of the cryptocurrency exchange and banning the trading of bitcoin.

(2021-4-4)