Quantum Solutions, a publicly traded Japanese artificial intelligence company, said that it planned to build a Bitcoin Treasury of 3,050 BTC in the coming year. This would be an investment worth more than $350,000,000 at today’s prices.
On a Thursday announcementQuantum Solutions BitcoinBTCGPT Pals Studio Limited, a wholly-owned Hong Kong subsidiary will manage the treasury. The international investment company Integrated Asset Management will provide an initial $10 million investment to the subsidiary.
According to the announcement “the company views Bitcoin as a long-term, strategic reserve instrument.” Quantum Solutions intends to achieve its target of 3,000 BTC in phases, depending upon market conditions, the availability of capital, and regulations.
Google Finance dataQuantum Solutions is valued at 23,25 billion yen ($159 million). Quantum Solutions’ stock fell by 9.19%, currently trading at 504yen (about $3.44) at the time this article was written.
Related: Metaplanet vs. Semler Scientific: The race to become Bitcoin’s biggest corporate whale
Treasury management by a dedicated subsidiary
GPT Pals Studio is already in the process of constructing its digital assets infrastructure. The announcement states that it’s secure and auditable. According to the announcement, this infrastructure includes cold and warm wallets systems segregated from each other as well as internal controls and accounting methods.
Francis Zhou, CEO of the company, said that this was a long-term commitment. “uniquely positioned to build a Bitcoin-first capital structure.”
“In addition to accumulating Bitcoin, we intend to do so with institutional-grade discipline,” Zhou said. “We are in advanced discussions with top-tier asset managers, sovereign wealth allocators and fintech leaders to scale our treasury roadmap responsibly and rapidly.”
Related: Metaplanet CEO joins investment in Korean company to boost Asia crypto treasuries
Bitcoin Treasurys on the Rise in Japan
Quantum, the latest Japanese firm to adopt Bitcoin as a treasury currency strategy follows Metaplanet. Metaplanet is Japan’s first publically listed company that adopted this approach.
Kitabo, a Japanese textile and recycling company with a history of 80 years, was listed on the Tokyo Stock Exchange earlier this week. announced plans to purchase 800 million Japanese yenBitcoin, which is about $5.6 Million, will be used as a reserve for the company.
Remixpoint, a Tokyo-based company that produces energy, announced earlier this month its plans to expand into the United States. raised about $215 million to expand its Bitcoin treasury. Takashi Tashiro has been appointed as the firm’s CEO. will be paid in Bitcoin In order to achieve this, “in the same boat” As shareholders,
Magazine: Bitcoin OG Willy Woo has sold most of his Bitcoin: Here’s why
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: cointelegraph.com
