Tokyo Stock Exchange-listed company Bitcoin Japan (formerly Hottamaru Masashi) announced that it plans to raise net proceeds of about 9.66B yen by issuing convertible bonds and new share subscription rights to EVO FUND. Of this amount, 662 million yen will be used to purchase Bitcoin opportunistically, accounting for about 7% of the total fundraising. The company currently does not hold any BTC. Bitcoin Japan has recorded operating losses for eight consecutive fiscal years. In the previous round of financing, the intended Bitcoin investment plan was not carried out due to insufficient exercise. (Coinpost)

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RevokeRanger
· 2h ago
Eight straight years of losses—this time they’re only putting 7% into buying coins; it’s probably just a drop in the bucket.
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RoyaltyGray
· 2h ago
Did the previous fundraising plan fall through? And now they’re coming back again? Will shareholders still be willing to keep investing? BTC isn’t a cure-all—maybe it’s better to think first about how to turn losses into profits.
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WhitelistHunter
· 2h ago
Yet another long-established loss-making company that’s trying to cash in on Bitcoin.
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