A Japanese hotel firm has purchased 162 bitcoin (BTC) for $13.5 million, with an average cost of $83,123 per bitcoin, resulting in a year-to-date bitcoin return of 53.2%.
This BTC return reflects the change in the ratio of bitcoin assets to fully diluted shares outstanding over a specific timeframe. As of March 12, the company has accumulated a total of 3,050 BTC, which is currently valued at $253.7 million, with an average purchase price of $83,180 per bitcoin.
Furthermore, the company has issued 2 billion JPY ($13.5 million) in zero-interest ordinary bonds to finance additional bitcoin purchases. At the current moment, shares of the company are trading at 3,630 yen, nearly 50% lower than their peak in February.