PANews reported on May 12 that according to Decrypt, listed company Beat Holdings Ltd. said on Thursday that it would increase its investment in Bitcoin-related ETFs, becoming the latest Tokyo-listed company to deepen its investment in digital assets amid the renewed interest of institutions in cryptocurrencies. The company, listed on the Tokyo Stock Exchange Standard Market, disclosed on Thursday that its board of directors approved an increase in the upper limit of crypto-related investments from $6.8 million to $34 million.
The firm has purchased 131,230 shares of BlackRock’s iShares Bitcoin Trust (IBIT) at an average price of $49.49 per share. Given IBIT’s closing price of $58.66 on May 9, Beat’s holdings represent unrealized gains of more than $681,000, the firm said in a statement.
