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Tokyo-listed Beat Holdings raises Bitcoin ETF investment limit from $6.8 million to $34 million

On May 12th, Tokyo-listed company Beat Holdings announced that it will increase the upper limit of its Bitcoin-related investments from $6.8 million to $34 million. The company has purchased 131,230 units of BlackRock's iShares Bitcoin Trust (IBIT) at an average purchase price of $49.49 per unit. As of May 9th, the unrealized gain on the holdings has exceeded $681,000. To support further investments, Beat Holdings has withdrawn $2.8 million from its revolving credit line, with an expected interest of approximately $150,000 generated within the year.

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