Japanese Game Developer Gumi to Acquire $6.58M in Bitcoin for Web3 Expansion

Tokyo-based mobile game developer Gumi Inc. announced plans on February 10th to acquire $6.58 million in Bitcoin (BTC) between February and May, aiming to bolster its blockchain and Web3 operations. This move follows a 3.65% increase in Gumi's stock, closing at $2.98 on Tuesday, according to Yahoo Finance. Gumi also recently became the first publicly listed Japanese firm to act as a validator in the Babylon staking protocol. The company intends to evaluate its crypto holdings quarterly, recording any unrealized gains or losses in its income statement. This acquisition aligns Gumi with a growing trend of corporations adding Bitcoin to their portfolios, with companies like MicroStrategy (now Strategy) holding over 478,740 BTC and others like Metaplanet Inc. planning to significantly increase their Bitcoin holdings.