TechFlow, May 12 — According to Decrypt, Beat Holdings, a Tokyo-listed company, announced it has raised its investment cap in Bitcoin-related assets 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. As of May 9, the unrealized gains on its holdings exceeded $681,000. To support further investments, Beat Holdings drew $2.8 million from its revolving credit facility, which is expected to generate approximately $150,000 in interest within the year.
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