Lib Work, a Japanese real estate technology firm, has completed its inaugural Bitcoin acquisition as part of an extensive digital asset strategy.
This initiative demonstrates the company’s ongoing dedication to incorporating cryptocurrency into its long-term financial framework.
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Lib Work Kicks Off Bitcoin Investment
Lib Work, a Tokyo-listed entity recognized for its technology-focused real estate and NFT-associated housing projects, reported on October 6 that it purchased 29.6431 BTC in September. The total transaction reached $3.3 million (499,998,671 JPY), with an average buy price of $112,140 (16,867,286 JPY) per Bitcoin. Previously, on August 18, the company revealed a strategic plan to acquire and retain digital assets over the medium to long term within its wider financial strategy.
This decision aligns with its efforts to merge cryptocurrency with innovative housing initiatives, including tokenized 3D-printed homes as NFTs. Lib Work also noted the potential to accept Bitcoin for property transactions, facilitating cross-border dealings. Its Bitcoin assets are managed through SBI VC Trade, a local cryptocurrency exchange that offers trading, custody, and operational assistance.
Market Reaction and Strategic Perspective
Lib Work’s stock has experienced a significant uptick since unveiling its digital asset strategy. In the last six months, the company’s share price has risen by 28.17%, reflecting investor confidence in its diversification approach. On October 6, coinciding with Bitcoin hitting consecutive record highs, Lib Work shares surged an additional 1.93%.
The company suggested it may broaden its digital asset portfolio beyond Bitcoin, potentially incorporating stablecoins and other cryptocurrencies. Lib Work’s integration of cryptocurrency into its financial structure highlights a rising trend among Japanese businesses embracing digital assets for both strategic investment and operational agility.
