Bitcoin Japan to initiate first Bitcoin purchase with $1 million cap

Bitcoin Japan (formerly Hotta Marumasa), a company listed on the Tokyo Stock Exchange, announced on September 18 that it will begin purchasing Bitcoin (BTC) through its Cayman Islands-based subsidiary, BTC JPN Ltd. The company has set an initial purchase cap of $1 million, including fees, as part of its new Bitcoin treasury and asset management strategy. The investment will be funded by proceeds from convertible bonds. Bitcoin Japan clarified that it does not aim to maximize its BTC holdings and may liquidate assets if higher-value investment opportunities arise in sectors like AI or blockchain. This initiative is distinct from the similarly named Bitcoin Japan Inc. established by Metaplanet.