Coinpost reported that Bitcoin Japan (formerly Hotamarusho), a company listed on the Tokyo Stock Exchange in Japan, will launch a Bitcoin treasury business as a new venture and purchase up to $1 million worth of BTC as its first investment. The board of directors of Bitcoin Japan approved this plan at a board meeting held on the 17th and 18th. The purchase will be made through its subsidiary BTC JPN Ltd. in the Cayman Islands, and the funds will utilize part of the 1.5 billion yen raised from convertible bond-type bonds with stock acquisition rights issued last July. Bitcoin Japan also plans to explore profit generation using BTC lending and derivatives under a risk management framework.
※ Bitcoin Japan Corporation is a separate legal entity from 'Bitcoin Japan Inc.', a subsidiary of Metaplanet, the world's third-largest BTC holding company.
