Japanese Listed Company Beat Holdings Announces Increased Investment in Bitcoin Spot ETF
Odaily Planet Daily News: Listed company Beat Holdings Ltd. stated on Thursday that it will increase its investment in Bitcoin-related ETFs, becoming the latest Tokyo-listed company to deepen its investment in digital assets amid renewed institutional interest in cryptocurrencies.
The company, listed on the Tokyo Stock Exchange's standard market, disclosed on Thursday that its board of directors approved raising the cap on crypto-related investments from $6.8 million to $34 million.
The company has purchased 131,230 shares of BlackRock's iShares Bitcoin Trust (IBIT) at an average price of $49.49 per share. The company stated in a release that given IBIT's closing price of $58.66 on May 9, Beat's unrealized gains exceed $681,000. (Decrypt)
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Europol’s Bounty on Russian Crypto Ransomware Gang Turns Out to Be a Scam
AERO briefly surpasses $1.4, rising over 7% in 5 minutes
U.S. Stock Market Gains Mask Economic Slowdown, 35% Chance of Recession Ahead
Trending news
MoreCrypto prices
More
