ANAP Holdings, a Japanese clothing brand, is joining the trend of corporate Bitcoin acquisitions with a ¥11 billion BTC purchase. It will immediately invest ¥8 billion and convert the remainder after further capital increases.
The firm is paying for this through a new sale of company shares. In the last month, ANAP’s stock price has skyrocketed over 90%.
ANAP Holdings Bets on Bitcoin
Corporate Bitcoin acquisition is a rising trend right now, with firms across the globe pivoting to this strategy while BTC is growing consistently. ANAP Holdings is investing over $79 million in Bitcoin as part of this trend, while other Japanese firms are making major commitments to the asset.
Over the last month, the company’s stock valuation has soared over 90%, giving ANAP a solid bedrock for these Bitcoin purchases.
Several firms have been fully pivoting to BTC, de-prioritizing or even discontinuing their original core functions. For ANAP, this will be less of a full pivot than a way to take advantage of long-term BTC gains.
To be fair, ANAP’s stock price didn’t react much to today’s purchase. In the last 24 hours, it has wobbled up and down, but total movement was less than 1%. This might actually benefit the company in a few ways.
Typically, a full pivot to Bitcoin is an emergency measure, but ANAP’s fashion lines are reporting healthy growth.
For now, BTC is just a bonus. If it keeps performing well, ANAP will have a profitable Bitcoin investment on top of its regular company. In the event of a market downturn, the company will be less vulnerable to forced liquidations.
ANAP Holdings isn’t the only company making major Bitcoin investments today; Michael Saylor announced that Strategy is doing the same. Pumping over $110 million into its own Bitcoin treasury, Strategy is continuing the trend that made it a top-level whale.
As long as firms like MicroStrategy keep committing to Bitcoin, it’ll be easier for ANAP to enter this market. As crypto becomes more popular in Japan, this company is committing resources to a bold plan.
Hopefully, a success here can encourage others to follow.
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