Japan's Kitabo Joins Growing List of Asian Firms Turning to Bitcoin Amid Financial Strain

Another One: Japan's Kitabo Turns to Bitcoin for Treasury Reserves

The manufacturing firm has turned to the asset, adopting the treasury model, citing steep financial losses. It has joined the rising list of Japanese companies adopting this strategy, contributing to the billions of dollars already invested in bitcoin within the country. Changing Strategies Kitabo Co., Ltd, a company that engages in the production and sale of synthetic fiber spun yarns listed on the Tokyo Stock Exchange, announced on Tuesday tha…

Japanese Textile Firm Kitabo Plans to Acquire $5.4M in Bitcoin

Listed on the Tokyo Stock Exchange, Kitabo Co., Ltd., a textile manufacturer with a century-long history in Japan, intends to buy as much as ¥800 million, or around $5.4 million, worth of Bitcoin. In order to earn a return, the corporation may lease part of the digital asset to crypto lending services and employ dollar-cost averaging to buy it gradually via domestic exchanges. Bitcoin strategy marks pivot toward digital and real-world asset vent…

Japan's Kitabo Joins Growing List of Asian Firms Turning to Bitcoin Amid Financial Strain

Kitabo cited growing regulatory clarity and Bitcoin’s establishment as a key asset following its U.S. ETF listing as reasons for the move.