Bitcoin Japan Corp. Approves Up to $10M BTC Purchase for New Treasury Venture

Bitcoin Japan Corporation (formerly Hotamaru Shou), a Tokyo Stock Exchange-listed company, announced it will begin a Bitcoin treasury business as a new venture and plans to purchase up to $10 million worth of BTC as its first investment, according to CoinPost. The company's board approved the plan during meetings on July 17-18. The acquisition will be conducted through its Cayman Islands-based subsidiary BTC JPN Ltd., utilizing part of the 1.5 billion yen raised from convertible bonds issued in July. Additionally, Bitcoin Japan is considering generating revenue through BTC lending and derivatives under a risk management framework.