Beat Holdings Ltd. Amplifies Bitcoin ETF Investments

Beat Holdings Ltd., a publicly traded firm listed on the Tokyo Stock Exchange, has announced an expansion of its investment in Bitcoin exchange-traded funds (ETFs). This decision aligns with the current surge in institutional interest towards cryptocurrencies. 📈 The company’s board recently approved raising the cap for cryptocurrency investments from $6.8 million to a significant $34 million. Beat Holdings has already acquired 131,230 shares of BlackRock’s iShares Bitcoin Trust (IBIT), at an average price of $49.49 per share. As IBIT closed at $58.66 on May 9th, the company recorded unrealized profits exceeding $681,000.