By cryptoadmin Daido Limited, a 147-year-old publicly traded company in Japan, announced its decision to purchase Bitcoin. The company stated that it will purchase up to 1 billion Japanese yen (approximately $6.5 million) worth of Bitcoin.
The company stated that Bitcoin is considered a hedge against inflation and the depreciation of the Japanese yen. The statement described Bitcoin, with its limited supply, as “digital gold” and said its inclusion in the asset portfolio is part of a long-term value preservation strategy.
Daido Limited stated that its Bitcoin investment is also consistent with its goal of diversifying its asset portfolio and increasing capital efficiency.
According to the official announcement, the decision to purchase Bitcoin was approved at the company’s board meeting. As part of its medium-term management plan, the company will allocate a portion of its surplus funds to Bitcoin.
Daido Limited attracted investors’ attention in 2024 with its decision to increase its dividend 50-fold.
*This is not investment advice.