Japanese long-established listed company "Daido Limited" decides to spend up to 1.1 billion yen to purchase bitcoin as a hedge against inflation.
PANews reported on February 28 that, according to an announcement by DAIDOH LIMITED (3205), the company's board of directors decided on February 27 to purchase BTC, with a maximum purchase amount of 1 billion yen (approximately 6.4 million US dollars, equivalent to about 43.95 million RMB). The company stated that bitcoin will be used as "digital gold" to hedge against inflation and the risk of yen depreciation, and to achieve diversification and improve capital efficiency by including it in its asset portfolio.
Note: DAIDOH LIMITED (commonly translated as "Daitoh Limited" in Chinese) is a long-established Japanese listed company in the apparel/retail sector (TSE Standard, NSE Premium, code 3205).
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