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Japanese game studio Gumi has said that it will be undertaking a Bitcoin purchase. According to the official announcement, the Tokyo-based mobile game developer Gumi Inc. said Monday that it plans to purchase 1 billion Japanese yen (about $6.58 million) worth of Bitcoin.
Gumi said in a statement that it intends to make the transaction somewhere between February and May of this year.
The move comes against the backdrop of a rise in Bitcoin purchase by large institutions.
What Will The Bitcoin Purchase be Used For?
According to Gumi’s translated statement, the firm will further expand its its node operating business and improve its visibility in the Web3 area through this endeavor.
According to the company, buying Bitcoin was done to support a number of initiatives aimed at bolstering the company’s financial position as it pursues blockchain and other ventures. According to Gumi, one of these initiatives is growing its node operation business.
Gumi’s Bitcoin Buy Paves For Crypto Adoption in Gaming Sector
Known for its online and mobile games, Gumi is a well-known Japanese game developer. Since its founding in 2007, the company has amassed millions of gamers worldwide thanks to popular titles like Brave Frontier and The Alchemist Code.
Gumi focuses on creating original games as well as working with other companies to adapt well-known brands for mobile devices. The business is now a major participant in the mobile game sector, having grown internationally with offices in the US and other nations.
Known for placing a high value on creativity, quality, and community involvement, Gumi keeps pushing the frontiers of the gaming industry by regularly releasing new games and investigating cutting-edge technologies like blockchain for upcoming game development.
Therefore, the firm’s move towards keeping Bitcoin as a company asset is likely a greater sign of gaming and institutional adoption of Bitcoin.
Rise of Corporate Adoption Of Bitcoin
More and more corporates are havily investiong in Bitcoin because they view the token as a store of value and an inflation hedge.
The open inclusion of Bitcoin on the balance sheets of well-known businesses like Tesla, MicroStrategy, and Square suggests that institutional faith in digital assets has grown.
These investments often serve as a diversification strategy in addition to more traditional assets like stocks and bonds. Bitcoin’s long-term development potential and position in the expanding cryptocurrency ecosystem are what attract businesses to it.
However, in this shifting atmosphere, concerns including volatility, ambiguous rules, and environmental problems associated to mining remain significant challenges that enterprises must face.
Also Read: Publicly Traded Company Semler Scientific Invests Heavy in Bitcoin, Buys 871 BTC Worth $88.5M