Bitcoin: In today’s digital age, new avenues for technology and investment are rapidly opening up. At this time, Mac House, a traditional Japanese clothing company, has completely changed its business direction and entered the world of Bitcoin and cryptocurrency. The company is now embarking on its digital journey under the new name Gyet Co., and aims to accumulate a stockpile of up to 1,000 Bitcoin.
Mac House, previously known solely for clothing, announced a shift in its investment and business strategy in July. It is now emerging as not only an investment and holding company, but Mac House will now operate solely as a subsidiary brand.
Bitcoin Treasure Gyet Co’s Ambitious Goal
As of September 26, Gyet Co. has added 106.6536 BTC to its Bitcoin treasury, valued at approximately 1.8 billion yen, or approximately $12 million. The company’s long-term goal is to accumulate a reserve of 1,000 BTC, which would be worth over $100 million at today’s prices.
The company’s strategy isn’t limited to Bitcoin. Gyet Co. plans to incorporate other crypto assets and yield opportunities like lending and staking in the future. Its goal is to ensure financial growth and stability through various investment channels.
Expansion into Digital and Crypto Ventures
Gyet Co.’s new strategy isn’t limited to crypto investments. The company also plans to expand into areas like AI, crypto mining, venture investments, and mergers and acquisitions. In August, Gyet Co. partnered with Zero Field to develop a dual-revenue data center that will serve both generative AI and crypto mining. In addition, the company is considering introducing Bitcoin payments to its online and offline stores. Gyet Co. has also indicated that it plans to further enhance the customer experience through cryptocurrency rewards and NFT products.
Stock Market Reaction
When Gyet Co. announced its new business and fundraising, the company’s share price saw a 365% increase in a week. Although the stock has cooled slightly now, it is still trading at twice its prior price. This clearly indicates that investors are enthusiastic and optimistic about this new business model and the company’s digital pivot.
Growing Trend of Bitcoin Investment in Japan
Public market crypto investment is growing rapidly in Japan. NEXON added $100 million worth of Bitcoin to its balance sheet in 2021, following which several companies on the Tokyo Stock Exchange have begun investing in Bitcoin. Companies like Metaplanet, Remixpoint, ANAP Holdings, and Convano have also become active in building Bitcoin treasuries.
Among these, Metaplanet has emerged as the most aggressive investor. In just over a year, the hotel operator has amassed a stash of 25,555 BTC, valued at over $2.8 billion. This makes it the world’s fifth-largest corporate Bitcoin holder.
Gyet Co.’s digital transformation and plans to build a Bitcoin treasury demonstrate that even traditional businesses can now capitalize on new opportunities through modern technology and investments. This journey from Mac House to Gyet Co. is not just a name change, but a bold step that will establish the company’s new identity within the global investor community and the digital financial world. As the world rapidly shifts toward digital and cryptocurrency, the actions of companies like Gyet Co. make it clear that the intersection of traditional and modern business is the way of the future.
Disclaimer: This article is for informational purposes only and should not be construed as investment advice. Investing in Bitcoin and other cryptocurrencies involves risk, and it is important to consult an independent financial advisor before investing.
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