Beat Holdings Quadruples Bitcoin ETF Bet to $34M, Buys More IBIT
- Beat Holdings raises Bitcoin ETF investment cap to $34M, citing macro uncertainty.
- Firm now holds 131K IBIT units, with $681K in unrealized gains from Bitcoin exposure.
- Strategy mirrors Metaplanet and U.S. firms using BTC as a treasury hedge.
Tokyo-listed firm Beat Holdings has significantly expanded its exposure to Bitcoin ETFs, more than quadrupling its investment cap from $6.8 million to $34 million.
The company disclosed this strategic update on Thursday, May 12, following a board decision to increase its allocation to crypto-related investments, highlighting a growing trend of public-listed companies piling up on Bitcoin through various instruments, including Bitcoin ETFs.
Beat Holdings Funds Latest IBIT Purchase via Credit Facility
To finance these additional Bitcoin ETF purchases, Beat Holdings borrowed approximately ¥400 million ($2.8 million) from a revolving credit facility to finance additional purchases. The borrowing is expected to result in interest payments totaling roughly $150,000 by the end of the year.
According to company disclosures, Beat Holdings holds more than 131,000 units of BlackRock’s iShares Bitcoin Trust (IBIT) follo…
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Beat Holdings Quadruples Bitcoin ETF Bet to $34M, Buys More IBIT
- Beat Holdings raises Bitcoin ETF investment cap to $34M, citing macro uncertainty.
- Firm now holds 131K IBIT units, with $681K in unrealized gains from Bitcoin exposure.
- Strategy mirrors Metaplanet and U.S. firms using BTC as a treasury hedge.
Tokyo-listed firm Beat Holdings has significantly expanded its exposure to Bitcoin ETFs, more than quadrupling its investment cap from $6.8 million to $34 million.
The company disclosed this strategic update on Thursday, May 12, following a board decision to increase its allocation to crypto-related investments, highlighting a growing trend of public-listed companies piling up on Bitcoin through various instruments, including Bitcoin ETFs.
Beat Holdings Funds Latest IBIT Purchase via Credit Facility
To finance these additional Bitcoin ETF purchases, Beat Holdings borrowed approximately ¥400 million ($2.8 million) from a revolving credit facility to finance additional purchases. The borrowing is expected to result in interest payments totaling roughly $150,000 by the end of the year.
According to company disclosures, Beat Holdings holds more than 131,000 units of BlackRock’s iShares Bitcoin Trust (IBIT) follo…
The post Beat Holdings Quadruples Bitcoin ETF Bet to $34M, Buys More IBIT appeared first on Coin Edition.
Read More
Fidelity and Grayscale Lead Outflows as Bitcoin and Ethereum ETFs See Red on May 14