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 will have full control of the Hong Kong treasury. The investment will be made by the investment firm Integrated Asset Management.
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 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 ($3.44) as I write this.
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Treasury management by a dedicated subsidiary
GPT Pals Studio is already in the process of establishing their digital asset infrastructure. The announcement states that it’s secure and auditable. According to the announcement, this infrastructure includes cold wallet and hot wallet segregated systems as well as internal controls and accounting mechanism.
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 system is following in Metaplanet’s footsteps. Metaplanet had been the first Japanese public listed company to do so.
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 is worth approximately $5.6 Million, which the company reserves.
Remixpoint is a Tokyo based energy company. raised about $215 million to expand its Bitcoin treasury. Takashi Tashiro has been appointed as the firm’s CEO. will be paid in Bitcoin As part of the efforts to be “in the same boat” As shareholders,
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Source: cointelegraph.com
