Acquisition by the Japanese Gaming Giant
Mobile gaming firm Gumi, listed in Tokyo, has made its official entry into the Bitcoin investment arena by purchasing Bitcoin worth ¥1 billion ($6.6 million). The company intends to use its reserves in Bitcoin to further strengthen its Web3 and Blockchain presence and generate additional income via the Babylon staking protocol.
Strategically Moving into Web3
In a statement dated Feb. 10, the Board of Gumi officially approved the purchase of Bitcoin as part of an extended initiative to acquire the management of high-quality tokens across the globe. The company also intends to validate for Babylon, a Bitcoin Staking protocol currently with $3.5 billion in BTC locked.
Gumi is aggressively investing in the blockchain industry in an effort to build new content and services utilizing this technology. Gumi Cryptos Capital-a Silicon Valley-based VC arm of Gumi-has supported the likes of OpenSea and 1inch among other prominent blockchain projects.
More Public Companies Embracing Bitcoin
Gumi, the Japanese company that has begun to implement its BTC strategy, is an ever-increasing list of public firms implementing the Bitcoin asset strategy. In May 2023, Metaplanet of Japan set a BTC strategy, making a recent $60 million purchase of Bitcoin.
In the U.S., Semlar Scientific, Matador Technologies, and Quantum BioPharma are the firms that keep BTC on their balance sheets. Meanwhile, Strategy, a Bitcoin-advocating firm owned by Michael Saylor, acquired 7,633 BTC last week, at an average price of $97,255.
Bitcoin Miners Also Increasing Holdings
In addition to corporate investors, Bitcoin miners are increasing their reserves. CleanSpark, one huge mining company, added over 1,000 BTC in Q4, bringing its total holdings, including BTC and cash, to 10,556 BTC.
With institutional adoption of Bitcoin gathering steam, Gumi’s latest action heralds increasing mainstream acceptance of Bitcoin as a long-term investment asset.
