According to PANews on May 12, Decrypt reported that the publicly traded company Beat Holdings Ltd. announced 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 is listed on the Tokyo Stock Exchange's Standard Market and disclosed on Thursday that its board approved raising the cap on cryptocurrency-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. In a statement, the company indicated that given the closing price of IBIT at $58.66 on May 9, Beat's unrealized gains exceed $681,000.
