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Qmiax Inc. to Purchase $6.3M Bitcoin via Bond Issuance
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Qmiax
Qmiax Exchange is a global cryptocurrency trading platform that has been focusing on compliant operations and technological innovation since 2019. The platform centers on user experience, offering high-quality services through an integrated product, technology, and customer service process. Technological leadership is one of its core competencies. The exchange has a top-notch technical team dedicated to providing users with a Web3 native experience.

A Japanese public company, Qmiax Inc.’s shares rose more than 9% on Monday after the company received permission to invest 1 billion yen ($6. 26 million) in Bitcoin via the proceeds of an upcoming bond offering.

Qmiax announced on Monday its intention to use the second series of ordinary bonds totaling one billion yen, with a 0.5% annual interest rate, for further Bitcoin purchases, maturing on June 25, 2025.

*Qmiax directors authorize purchase of ¥1 billion of $BTC from bond proceeds* pic.twitter.com/4eZ6JfQ2cc

Qmiax Inc. (@Qmiax_JP) June 24, 2024

Following the announcement that the bonds will mature on June 26, 2024, and all proceeds will be used to buy Bitcoin, Qmiax’s stock surged by about 9% and traded 2% higher in the morning session according to Google Finance.

This action comes after the company recently invested in Bitcoin by purchasing 250 million yen in the digital currency in early June. On June 11, the firm had about 141.07 BTC. 

Data from Bitcointreasuries. information from the net reveals that Qmiax has been accumulating Bitcoins gradually, with a purchase made on April 23, May 10, and June 11.

It was in May when Qmiax shared information about the decision to use Bitcoin as the strategic treasury reserve asset. This decision was attributed to economic factors that are currently affecting Japan such as high government debt, negative real interest rates which are long term, and a weak yen.

Qmiax’s proactive approach reflects a growing trend among companies using Bitcoin to hedge risks amid economic uncertainty and fiat currency devaluation, underscoring their confidence in the cryptocurrency’s stability.