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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Asia’s MicroStrategy? Meitu drops another $50M on ETH and BTC

Chinese tech company Meitu has dropped another $50 million on ETh and BTC, taking its total holdings up to $90 million.

Chinese tech company Meitu has announced the investment of a further $50 million into Ether and Bitcoin, taking its net spend on crypto up to roughly $90 million this month.

The Hong Kong and China listed company purchased 386.08 BTC for $21.6 million, and 16,000 ETH for around $28.4 million, on March 17. The most recent announcement follows an initial cryptocurrency investment on March 5, in which the company acquired 15,000 ETH for around $22.1 million and roughly 379 BTC for approximately $17.9 million.

In the latest announcement, the company noted that while cryptocurrency is still in its formative stages, it believes that blockchain technology has the potential to be a disruptive force in existing financial and technology industries:

“The Board believes that the blockchain industry is still in its early stage, analogous to the mobile internet industry in circa 2005. Against this backdrop, the Board believes cryptocurrencies have ample room for appreciation in value.”

The company also cited the growing trend of large institutions such as Tesla and Microstrategy accumulating Bitcoin, and the increasing acceptance for cryptocurrency as a form of payment for goods and services in mainstream society, as reasons for the additional purchase.

Meitu went public in 2016 and is listed in China and Hong Kong. The tech company developed MeituPic, an app that lets users edit and retouch photos that is popular in mainland China, Hong Kong and Taiwan.

Following the announcement of its first investment on March 5, Chinese journalist Wu BlockChain suggested it was: “The first Chinese listed company to buy a large amount of Bitcoin.”.

However, it seems unlikely many more publicly listed Chinese companies will announce large crypto purchases in the near future, as the regulatory environment in the country is highly uncertain. China currently accepts Bitcoin as a virtual commodity, but prohibits trading platforms from engaging in exchanging legal tender for virtual currencies or tokens.

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