Japanese AI company quantum solutions are set up to start investing in Bitcoin
The decision was approved at the board meeting on July 23, and includes plans to first purchase up to $10 million in BTC using borrowed funds. The company aims to build a Treasury Ministry of Finance with a maximum of 3,000 BTC over the next 12 months.
The company cited the depreciation of Fiat currencies like the yen and the growing global financial uncertainty as the leading driver behind the movement. Until now, neither GPT nor its subsidiaries have included digital assets in their balance sheets.
“In order to efficiently manage surplus funds generated from existing companies, we have decided to add Bitcoin to our reserve assets to diversify our asset portfolios and strengthen our financial foundations, maintain value from the medium to long term and reduce foreign exchange risk,” the company writes.
This new business will be managed through Crypto Exchange Hashkey’s step-by-step investment policy and dedicated accounts.
As the country’s bond yields continue to rise, Bitcoin’s Ministry of Finance is growing in Japan. Metaplanet, Japan’s largest Bitcoin finance company, currently has 16,352 BTC on its balance sheet, with the number of companies in the country holding cryptocurrency is rising sharply.
These currently include Nexon, Remixpoint, Conve, SBC Medical Group Holdings, Anap Holdings, and more, according to Bitcointreasuries data. These companies hold a total of 19,623 BTC.
This figure is still small compared to the total amount held by Strategy, the world’s largest Bitcoin finance company, which holds 607,770 BTC on its balance sheet.