STOCKS | Bitcoin Japan Plans 660 Million Yen First Bitcoin Purchase

Bitcoin Japan plans to spend 660 million yen on its first bitcoin purchase. According to Foresight News, the company will issue unsecured convertible bonds with stock acquisition rights totaling 1.5 billion yen and a second round of stock acquisition rights through a third-party placement to EVO FUND, an investment fund registered in the Cayman Islands. Including funds raised through the exercise of the stock acquisition rights, net proceeds after related fees are expected to be about 9.657 billion yen. Of that amount, 660 million yen will be used for the company’s first bitcoin purchase.