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The Japanese apparel chain Mac House announced that it will purchase approximately $12 million worth of encryption assets.
PANews reported on June 19 that according to CoinDesk, Mac House, a Japanese clothing chain, has completed fund raising through the allocation of new share reservation rights to third parties, raising a total of 2.391 billion yen (about 16.42 million US dollars), exceeding the original plan of 1.476 billion yen (about 10.13 million US dollars). The company said it raised more funds than expected because the average exercise price of the IPO option was higher than expected. Among them, up to 1.715 billion yen (about 11.77 million US dollars) will be used to buy crypto assets such as bitcoin, a significant increase from the previously planned 800 million yen. Previously, Mac House announced on June 12 the launch of a new strategy for "finance, investment, and mergers and acquisitions," revealing plans to invest in encryption assets. To formally advance its investments, the company announced organizational changes on the same day, establishing a new "Digital Asset Operations Group" under the management headquarters, responsible for encryption asset and stock investment and risk management.