Tokyo-listed company Beat Holdings raises Bitcoin ETF investment cap to $34 million
On May 12, Beat Holdings, a Tokyo-listed company, announced that it would increase the bitcoin-related investment limit from US$6.8 million to US$34 million. The company has purchased 131,230 copies of BlackRock's iShares Bitcoin Trust(IBIT), with an average bid price of $49.49 per unit. As of May 9, the floating profit on positions has exceeded US$681,000. To support further investment, Beat Holdings withdrew US$2.8 million from the revolving credit facility and expects to generate approximately US$150,000 in interest during the year.
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