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.
The Thursday announcementQuantum Solutions BitcoinBTCGPT Pals Studio Limited, a wholly-owned Hong Kong subsidiary will manage the treasury. The investment will be made by Integrated Asset Management, an international investment firm.
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, based on the current market situation, capital available and regulations.
Google Finance dataQuantum Solutions has a market capitalization of 23.25 billion Japanese yen, or just under $159,000,000. Stocks of the firm fell 9.19% on Monday, and were trading at 504 Japanese yen (about $3.44) at time of publication.
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The Treasury Department is a separate subsidiary.
GPT Pals Studio is already in the process of constructing its digital assets infrastructure. The announcement states that it’s secure and auditable. This infrastructure is said to include segregated hot and cold wallet systems, accounting and internal controls.
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 Treasuries are on the Rise In Japan
Quantum, the latest Japanese firm to follow Metaplanet’s lead in adopting a Bitcoin Treasury Strategy is following in the steps of the Japanese public listed company Metaplanet.
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 yenBitcoins, worth about $5,6 million dollars, are held in the company’s reserve.
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” Shareholders are also known as investors.
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Source: cointelegraph.com
