Japan's Daido Life Insurance, a company with a 147-year history, has announced its board of directors has approved a resolution to acquire Bitcoin (BTC). The company plans to allocate up to 1 billion Japanese yen for this investment.

According to a company announcement, this strategic move is part of Daido Life's medium-term management plan for the fiscal year ending March 2029. The investment will see a portion of the company's assets held in BTC as a measure to hedge against inflation and the devaluation of the Japanese yen, while also aiming for asset diversification and risk mitigation.

Daido Life highlighted Bitcoin's limited supply and its low correlation with traditional assets, positioning it as a "digital gold" for its value-preserving capabilities.

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