TORICO Adds Nearly 24 ETH to Its Ethereum Holdings
TORICO, a Tokyo-based company listed on the Tokyo Stock Exchange's Growth Market, has announced that it has added 23.9880 ETH to its Ethereum holdings, bringing its total to 3,049.9926 ETH.
The purchase was made on October 1st and cost approximately 10.32 million yen (around $93,000 USD), with an average price of around 43,272 JPY per ETH.
TORICO had previously announced in May that it would be using a 'Target Buying Strategy' to acquire Ethereum, which involves selling put options on the cryptocurrency and using the premium received to purchase Ether at a set price.
The company also revealed in August that it had invested 60 ETH in an Ethereum-based hedge fund managed by Hyperithm LLC, with the goal of improving its operational efficiency and returns.