Japanese fashion retail company Mac House announced plans to invest up to 1.715 billion yen (approximately 16.2 billion won) in cryptocurrency assets, including Bitcoin. This is seen as an unusual move for a traditional retail company, indicating a potential shift in the company's asset management strategy.
According to Coin Desk Japan, Mac House recently raised a total of 2.391 billion yen through a new share subscription and plans to use the entire 915 million yen in excess of its original plan of 1.476 billion yen to purchase cryptocurrencies.
Additionally, the company's previously allocated cryptocurrency purchase budget of 500 million yen has been raised to 800 million yen due to the additional fundraising. As a result, Mac House's digital asset investment is expected to reach up to 1.715 billion yen.
Mac House has also reorganized its internal structure for this investment. It recently established a 'Digital Asset Management Division' to build infrastructure for systematic investment in cryptocurrencies and other digital assets.
Experts noted that "the trend of traditional companies including cryptocurrencies in their financial portfolios is gaining momentum in Japan" and "there is a possibility of expanded cryptocurrency demand as an alternative asset, especially in an environment with low interest rates and inflation concerns".
Mac House's move is interpreted as being influenced by US companies like Tesla and MicroStrategy's Bitcoin purchases. It is highly unusual for a listed Japanese company to invest such a large amount of funds in cryptocurrencies, and the potential follow-up by similar companies in Japan will be closely watched.
