Gumi, a Chinese game engineer, Announces Plans to Purchase and Stake Bitcoin.

Tokyo-listed mobile game developer Gumi Inc. is gearing up to acquire$ 6.58 million in Bitcoin ( BTC ) as part of its strategy to expand its blockchain and Web3 operations.

The merger, scheduled to take place between February and May, comes as Bitcoin remains at raised levels, up 100 % over a one-year time near$ 96, 000, CoinGecko data shows.

The game developer’s plans coincide with corporations ‘ wider financial plans to begin accumulating and holding the largest online property in the world.

In a business statement, the company says it is supporting” a number of initiatives to further improve its financial market in the cryptocurrency and other businesses, which are the pillars of its development business.”

The games giant just became the first publicly traded Chinese company to validate the Babylon staking protocol in accordance with the acquisition. &nbsp,

Gumi’s choice to dedicate a portion of its Bitcoin holdings is intended to generate profits from the gains made from its understanding of its value and from its involvement in bitcoin verification. &nbsp,

Additionally, the business noted that its bitcoin holdings will be evaluated monthly and that any unmet gains or losses will be recorded in its revenue statement.

Following the announcement, Gumi’s stock rose 3.65 % on Tuesday to close at$ 2.98, per Yahoo Finance data.

Big Names Jump on the Bitcoin Bandwagon

Businesses of all kinds are increasingly putting Bitcoins in their portfolio as a long-term investment strategy and a hedge against inflation.

Following its most recent buy this week, MicroStrategy, which has since been renamed Strategy Strategy, has a new name, and is now the largest multinational holder of Bitcoin, led by co-founder Michael Saylor. &nbsp,

The program bear’s Bitcoin enjoy has inspired some, including Japan’s Metaplanet Inc., known as’ Asia’s Microstrategy,’ which plans to raise its Bitcoins holdings to 10, 000 BTC by 2025 and 21, 000 BTC by 2026.

U. S. based cloud services provider Rumble Inc., meanwhile, announced plans in November to allocate up to$ 20 million of its cash reserves into Bitcoin.

Semler Scientific, a medical technology company, increased its assets to 3, 192 BTC after an$ 88.5 million order last year, while electricity storage company KULR Technology strengthened its balance sheet with 510 BTC. &nbsp,

AI education firm Genius Group is making an even bigger splash, planning a$ 120 million Bitcoin investment. In addition, social media marketing company Thumzup Media made its first significant crypto bet by acquiring roughly$ 1 million in BTC.

edited by Stacy Elliott and Sebastian Sinclair