Japanese clothing chain Mac House purchases 17.51 Bitcoins for the first time

According to NLNico, Japanese company Mac House purchased 17.51 Bitcoins today as part of a "proof of concept" (PoC). The total transaction amount was 300 million yen, with an average purchase price of 17.1355 million yen per Bitcoin. The funds were sourced from the company's surplus funds (up to 10% of cash and deposits). The company stated that based on the PoC results, it will consider developing a comprehensive cryptocurrency holding and management system and explore further business expansion. Previously, the company announced a strategic Bitcoin reserve target of 1,000 Bitcoins. Earlier news also surfaced that Japanese clothing chain Mac House plans to invest 1.7 billion yen in Bitcoin, with the purchase set to begin on September 17th.