Japanese clothing retailer Mac House has acquired 17.51 Bitcoins as part of a "proof of concept" initiative, marking its first foray into cryptocurrency. The purchase, totaling 300 million yen, was made at an average price of 17.1355 million yen per Bitcoin. The funds for this acquisition were drawn from the company's surplus, utilizing up to 10% of its cash and deposits.
Mac House aims to evaluate the results of this initial purchase to potentially develop a comprehensive cryptocurrency holding and management system. The company has previously set a strategic target to reserve 1,000 Bitcoins and plans to invest 1.7 billion yen in Bitcoin starting September 17.
Japanese Retailer Mac House Acquires 17.51 Bitcoins in Initial Purchase
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