The Japanese mobile gaming firm Gumi plans to accumulate more than $6.5 million worth of Bitcoin (BTC) as part of a new corporate strategy.
A translated announcement from the gaming company indicates the firm will invest 1 billion yen (equivalent to $6,558,150 at time of writing) between now and May to acquire the crypto.
Gumi has already expanded into the blockchain gaming sector and node operation. The firm plans to use Bitcoin as security collateral for other blockchains, and it plans to invest some surplus funds in BTC for staking on the Babylon protocol.
Gumi isn’t the only Japanese company buying Bitcoin: Metaplanet, the Tokyo-based hotel and investment firm, witnessed its stock explode by a staggering 3,575% in the past year as it launched an aggressive BTC accumulation strategy.
Metaplanet acquired 1,762 BTC in 2024 and became “the best-performing stock worldwide,” according to a recent company earnings presentation. The firm, which aims to acquire 10,000 Bitcoin by the end of the year, now holds the 15th-largest BTC corporate treasury in the world, according to data from Bitcointreasuries.net.
BTC is trading at $95,389 at time of writing. The top-ranked crypto asset by market cap is down more than 2% in the past 24 hours and nearly 3% in the past seven days.
Generated Image: Midjourney
Read the full article here