PANews reported on February 11 that according to The Block, Gumi Inc., a mobile game company listed in Tokyo, Japan, announced plans to purchase 1 billion yen (about 6.6 million US dollars) worth of Bitcoin between February and May to strengthen its Web3 business and node operations.
Gumi said that the company will use the excess Bitcoin funds to participate in the Babylon Bitcoin staking agreement, and expects to obtain additional income through BTC price increases, staking income and validator rewards. Gumi became the first listed company in Japan to participate in the Babylon agreement and will conduct a fair value assessment of its cryptocurrency holdings every quarter.
In addition, Japanese investment advisory firm Metaplanet Inc. previously announced the establishment of a Bitcoin reserve, currently holding 1,762 BTC and planning to expand it to 10,000 BTC by the end of the year.
