Gumi Inc. Buys $6.5M in Bitcoin for Blockchain Expansion

Tokyo-listed mobile game developer Gumi Inc. has revealed plans to acquire $6.58 million in Bitcoin (BTC) as part of its strategy to expand its blockchain and Web3 operations. The acquisition, scheduled to take place between February and May, comes as Bitcoin remains at elevated levels, up 100% over a one-year period near $96,000, according to CoinGecko data.

The gaming giant's plans also come amid broader financial strategies among corporations to begin accumulating and holding the world's largest digital asset. "The Company is promoting various initiatives to further strengthen its financial sector in the blockchain and other businesses, which are the pillars of its growth business," a company statement reads.

In line with the acquisition, Gumi recently became the first publicly listed Japanese firm to act as a validator in the Babylon staking protocol. The company's decision to allocate a portion of its Bitcoin holdings aims to generate returns from the appreciation of its price and the rewards accrued through participation in blockchain validation. The company also noted that its crypto holdings will be evaluated quarterly, with any unrealized gains or losses recorded in its income statement.

Following the announcement, Gumi's stock rose 3.65% on Tuesday to close at $2.98, according to Yahoo Finance data.

Companies across various sectors are increasingly adding Bitcoin to their portfolios as a hedge against inflation and a store of long-term value. MicroStrategy, now rebranded as Strategy under co-founder Michael Saylor, leads with over 478,740 BTC following its latest purchase this week, and stands as the largest corporate holder of Bitcoin. The software giant's Bitcoin play has inspired others, including Japan's Metaplanet Inc., known as 'Asia's Microstrategy,' which plans to raise its Bitcoin holdings to 10,000 BTC by 2025 and 21,000 BTC by 2026.

U.S.-based cloud services provider Rumble Inc. announced plans in November to allocate up to $20 million of its cash reserves into Bitcoin. Energy storage firm KULR Technology bolstered its balance sheet with 510 BTC, while medical tech company Semler Scientific expanded its holdings to 3,192 BTC after an $88.5 million purchase last week. AI education firm