Tokyo-listed Bitcoin Japan completes nearly $1M BTC purchase

Tokyo Stock Exchange-listed Bitcoin Japan, formerly Hotamaru Sho, bought 11.9188 BTC for $999,479 through its wholly owned subsidiary BTC JPN Ltd., CEO Phillip Lord said on X. The average purchase price was $83,857. Lord said the purchase was not based on a short-term price outlook but marked the first step in the company’s long-term BTC accumulation strategy. Lord added the company plans to consider further purchases based on market conditions, available funds, liquidity, and risk management. The purchase follows the board’s earlier approval for BTC acquisitions of up to $1 million. Note: This is a separate legal entity from Metaplanet subsidiary Bitcoin Japan Inc.