Bitcoin Japan is planning a $60 million fundraising round with EVO Fund, with the stated goal of finally purchasing bitcoin. The move stands out because, despite its name, the company currently does not hold any bitcoin.
The planned raise follows an earlier capital round in December that was used for a different purpose. Instead of buying bitcoin, that fundraising was directed into stakes tied to SpaceX and Figure AI.
The company has described those holdings as its only AI infrastructure investments to date. That detail highlights how previous funding was deployed outside direct bitcoin exposure, even as the company now prepares a new raise centered on acquiring the cryptocurrency.
Taken together, the latest plan marks a notable shift in focus toward holding bitcoin directly. It also puts attention on whether Bitcoin Japan will use this new funding round to align its balance sheet more closely with the strategy implied by its name.
