The Japanese firm of the Quantum Solutions will begin to invest in Bitcoin (BTC) through its subsidiary based in Hong Kong, GPT Pals Studio, the company said in a press release.
The decision, approved at a meeting of the Board on July 23, includes plans to buy up to $ 10 million in BTC using funds provided. The firm aims to build a treasure of up to 3,000 BTC, currently with a value of around $ 354 million, in the next 12 months.
The company cited the depreciation of fiduciary currencies such as YEN and the increase in global financial uncertainty as key drivers behind the measure. So far, neither GPT nor any of his subsidiaries had included digital assets in their balances.
“To efficiently administer the surplus funds generated from existing companies, diversify our asset portfolio to strengthen our financial base, preserve the medium and long term value and reduce the foreign exchange risks, we have decided to add Bitcoin to our reserve assets,” the company wrote.
This new business line will be governed by a gradual investment policy and an account dedicated in Crypto Exchange Hashkey.
Bitcoin Treasury bonds have been growing in Japan as the country’s bond yields continue to increase. Metaplenet, the largest Bitcoin Treasury firm in Japan, currently has 16,352 BTC in its general balance, and the number of companies in the country that have the cryptocurrency has been increasing.
These now include Nexon, Remixpoint, Confnene, SBC Medical Group Holdings, Anap Holdings and others, according to Bitcintrease data. These companies have 19,623 BTC in total.
The figure remains small compared to the total amount maintained by the world’s largest corporate bitcoin treasure strategy, Strategy, which has 607,770 BTC in its general balance.
