Lib Work Co. is dipping its toes into Bitcoin, a month after using NFTs for the first time to tokenize the designs of one of its 3D printed houses.
Japan-based 3D printed housing firm Lib Work Co has become the latest non-crypto native firm to buy Bitcoin for its corporate treasury, coming just a month after launching an initiative that uses non-fungible tokens to store house designs.
In a Monday statement following its board meeting, LibWork announced plans to purchase 500 million Japanese yen ($3.3 million) worth of Bitcoin (BTC) as a hedge against “inflationary trends” in Japan and the risks of “holding assets only in cash.”
“Therefore, our company has decided to adopt a phased approach to acquisition and holding, in response to these risks and to prepare for future growth areas with overseas operators,” the firm said.
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