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Japanese Construction Giant Lib Work Co. Buys Bitcoin, Posts 51M ¥ Gain

Lib Work Co. makes a bold move, investing in Bitcoin and seeing significant gains. Could this be the start of a new trend in the Japanese construction sector?

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In this picture we can see a market, in which we can see some stoles and we can see few people are...
In this picture we can see a market, in which we can see some stoles and we can see few people are around.

Japanese Construction Giant Lib Work Co. Buys Bitcoin, Posts 51M ¥ Gain

Japanese construction giant Lib Work Co., Ltd. has joined the ranks of companies investing in Bitcoin. The firm has purchased 29.64 Bitcoin, with a market value now standing at 551.36 million ¥ (approx. $3.7 million), marking a gain of around 51.36 million ¥ since acquisition.

Lib Work, known for its innovative approach to construction, has allocated a budget of 500 million ¥ for cryptocurrency investments. The company's first purchase, completed between September 8 and 29, cost 16.87 million ¥. This move signals a shift in the traditionally conservative construction industry, with Lib Work joining a select group of Japanese companies, including Nakiki SE and Metaplanet Inc., that have adopted Bitcoin.

The company plans to value its Bitcoin holdings at market value quarterly, with gains or losses reflected in financial reports. Lib Work's CFO, Hideki Sato, stated, 'We believe Bitcoin has potential as a store of value and a hedge against inflation.' The company is also considering investments in other cryptocurrencies, such as stablecoins and digital assets, as part of its diversified investment strategy.

Lib Work's Bitcoin purchase, representing a significant gain, underscores the growing institutional trust in Bitcoin as a store of value. As a pioneer in integrating technology and sustainability in construction, Lib Work's foray into cryptocurrency investment signals a new era for the Japanese construction sector.

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