Gumi Joins the Trend of Asian Firms Warming Up to Crypto, Buys $6.6M Worth of Bitcoin

Gumi, a publicly traded Japanese game studio, has decided to buy 1 billion yen worth of Bitcoin, that's equivalent to $6.6 million.

Japanese game studio Gumi has announced plans to purchase 1 billion yen ($6.6 million) worth of Bitcoin (BTC) in the latest move by an Asian firm to embrace cryptocurrency.

In a press release on Monday, the Tokyo-based gaming giant outlined its rationale for buying a substantial amount of cryptocurrency.

According to Gumi, the large-scale crypto purchase will enable the company to promote initiatives aimed at bolstering its financial field in blockchain and other business domains. The firm also noted that it is expanding its portfolio in the node management business.

Significantly, Gumi will become the first Japan-based, publicly listed company to join as a validator for the “Babylon” staking protocol in the second quarter of the fiscal year ending April 2025.

Gumi’s current status allows it to repurpose its surplus Bitcoins, using them as security collateral for other blockchains. In this context, the gaming giant is investing surplus funds in Bitcoin by staking it on Babylon.

The latest development saw Gumi’s shares surge by 3.6% shortly after the announcement, as the gaming giant looks to capitalize on Bitcoin’s potential growth. Gumi will stake more funds through the Babylon protocol while regularly assessing its crypto holdings to record gains or losses in its financial statements.

Gumi's notable foray into Bitcoin heralds a growing trend among Asian firms warming up to crypto. In December last year, Japanese investment firm Metaplanet added Bitcoin Treasury Operations as an official business line within its structure. With that move, the company established Bitcoin as a core part of its operations.

Coming less than two months after Metaplanet’s internal structural adjustment, the company’s stock went on to skyrocket by 3,600%. Reports highlighted that Metaplanet has set its sights on acquiring 21,000 BTC by 2026 in a bid to ramp up its digital asset holdings. The investment firm currently boasts 1,762 BTC, valued at around $172.3 million.

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