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Tokyo-listed mobile game studio Gumi Inc. has announced plans to invest about 1 billion Japanese yen (roughly $6.58 million) in Bitcoin. The company aims to complete the purchase between February and May this year.
According to The Bloc, this move is part of Gumi’s broader strategy to strengthen its financial position while expanding into blockchain and related industries.
Gumi’s statement highlighted the company’s efforts to strengthen its node operation business and enhance its presence in the Web3 domain. This initiative is seen as a step towards diversifying the company’s revenue streams and establishing a stronger foothold in the emerging digital economy.
The company also revealed its participation in the bitcoin staking protocol Babylon, becoming the first listed company in Japan to act as a validator for the protocol. This role is expected to generate secondary revenue for Gumi through staking its surplus bitcoin funds as well as earning validator rewards, in addition to potential profits from increases in bitcoin’s price.
Gumi has committed to assessing the fair market value of its cryptocurrency holdings on a quarterly basis, with any gains or losses to be recorded in its income statement. This reflects the company’s cautious approach to the volatility associated with digital assets.
Founded in 2007 and listed on the Tokyo Stock Exchange in 2014, Gumi has a history of developing and launching popular mobile games such as "Final Fantasy: Brave Exvius" and "Brave Frontier." The company also operates gumi Cryptos Capital (gCC), a venture capital firm investing in early-stage blockchain and crypto companies.
Following the announcement, Gumi’s stock price experienced a 3.65% increase on Monday, closing at 454 yen. Meanwhile, bitcoin’s value was noted to be $97,608, marking a 0.8% rise in the last 24 hours. This development comes as Japanese investment adviser Metaplanet Inc. also engages in expanding its bitcoin treasury, aiming to hold 10,000 BTC by the end of the year.
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