Japanese game company Enish has sold its entire Bitcoin holdings of 8.063 BTC at a loss of approximately $160,000, redirecting its strategy towards staking in the Solana ecosystem. The company aims for an annual yield of 6% to 8% through this new approach. Enish cited the increasing difficulty of sustaining its previous DAT 1.0 strategy, which relied on cryptocurrency price appreciation, amid market volatility. Instead, it is adopting the DAT 2.0 strategy, focusing on generating steady income through staking and validator operations. Enish plans to use approximately $46,000, obtained from the Bitcoin sale and the issuance of warrants and bonds, to fund Solana validator operations. The company has engaged with Japanese Solana infrastructure provider Solplanet to utilize its white-label validator program. This move marks the second instance in ten days of a publicly listed company abandoning Bitcoin reserves.
Japanese Game Company Enish Sells Bitcoin Holdings, Shifts to Solana Staking
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