Japanese Gaming Giant Gumi’s XRP Buy Twice the Size of Its Previous Bitcoin Investment
- Gumi’s XRP buy is over double its earlier ¥1B Bitcoin purchase.
- The firm aims to expand XRP’s role in remittance and liquidity markets.
- Analysts say XRP is consolidating, with a breakout above $3.08 imminent.
Japanese mobile gaming company Gumi, backed by financial giant SBI Holdings, has announced plans to purchase ¥2.5 billion ($17 million) worth of XRP over the next five months.
The move is part of Gumi’s broader growth strategy for blockchain adoption and marks one of the largest institutional treasury allocations into XRP so far.
Gumi’s XRP Bet is More Than Double Its Bitcoin Buy
This isn’t Gumi’s first crypto purchase, but it is its most aggressive. The company’s previous treasury allocation was a ¥1 billion buy of Bitcoin. This new ¥2.5 billion allocation into XRP is more than double that bet, showing a clear preference for XRP’s utility in payments and liquidity.
The post Japanese Gaming Giant Gumi’s XRP Buy Twice the Size of Its Previous Bitcoin Investment appeared first on Coin Edition.
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Japanese Gaming Giant Gumi’s XRP Buy Twice the Size of Its Previous Bitcoin Investment
- Gumi’s XRP buy is over double its earlier ¥1B Bitcoin purchase.
- The firm aims to expand XRP’s role in remittance and liquidity markets.
- Analysts say XRP is consolidating, with a breakout above $3.08 imminent.
Japanese mobile gaming company Gumi, backed by financial giant SBI Holdings, has announced plans to purchase ¥2.5 billion ($17 million) worth of XRP over the next five months.
The move is part of Gumi’s broader growth strategy for blockchain adoption and marks one of the largest institutional treasury allocations into XRP so far.
Gumi’s XRP Bet is More Than Double Its Bitcoin Buy
This isn’t Gumi’s first crypto purchase, but it is its most aggressive. The company’s previous treasury allocation was a ¥1 billion buy of Bitcoin. This new ¥2.5 billion allocation into XRP is more than double that bet, showing a clear preference for XRP’s utility in payments and liquidity.
The post Japanese Gaming Giant Gumi’s XRP Buy Twice the Size of Its Previous Bitcoin Investment appeared first on Coin Edition.
Read More