Publiclisted-Listed Beat Holdings Ltd. said Thursday it would increase investment in funds traded on Bitcoin-related exchanges, and would become the latest Tokyo-related company to deepen its exposure to digital assets amid a new institutional interest in crypto.
The company, listed on the Tokyo Stock Exchange’s standard market, announced Thursday that its board approved a limit on crypto investments from $6.8 million to $34 million.
I’ve already bought 131,230 BlackRock’s iShares Bitcoin Trust (IBIT) at a price of $49.49 per unit. Beat sits at an unrealized gain of 0ver $681,000, as IBIT closed for $58.66 on May 9th. statement.
To fund further purchases, Beat said it had withdrawn $2.8 million (¥400 million) from its revolving credit facility and had incurred an estimated $150,000 in interest by the end of the year.
Beat is a Hong Kong-based investment company founded in the Cayman Islands and has a subsidiary of IP licensing and mobile messaging.
In February this year, Bitcoin was first adopted as a major Treasury protected asset, and began acquiring assets both directly and through ETFs, particularly IBIT.
The company has formed the latest move as part of its broad financial strategy, citing the growing role of Bitcoin as a hedge against inflation, currency collapse and geopolitical uncertainty.
“When a country faces a escalation of desalination and trade wars, it appears that it will often respond by implementing expanding monetary and fiscal policies to increase liquidity,” the company said.
“This extra liquidity could ripple into global financial markets, supporting risky assets, including Bitcoin, especially as Bitcoin and associated ETFs become hedges against inflation and currency collapse,” he added.
The announcement of Beat follows a series of well-known Bitcoin purchases by Metaplanet Inc. Metaplanet is another Tokyo-listed company that employs Bitcoin as a reserve asset for the core Ministry of Finance.
Metaplanet is currently worth more than $571 million, over 5,500 BTC, and outlines plans to reach 10,000 BTC by the end of 2025. Decryption.
Bitcoin traded nearly $104,000 on Sunday, with a brief revision in April that extended profits last week after a sharp decline in assets at $74,700 and a significant drop in rebounds.
Japanese companies’ entry into Crypto Market reflects trends seen among some US companies in recent years, including Michael Sayler’s strategy, which has accumulated 555,500 BTC worth $57.7 billion.
