Remixpoint Inc., a publicly traded company listed on the Tokyo Stock Exchange, has announced the purchase of Bitcoin, Ethereum, Solana, and Avalanche as part of its strategy to diversify investments, mitigate the risk of yen depreciation, and optimize cash management.
Remixpoint Strengthens Portfolio with Bitcoin and Three Altcoins
In a statement released on September 27th, Remixpoint disclosed the specific amounts of each cryptocurrency purchased:
- Bitcoin (BTC): 64.4 BTC, valued at 600 million yen
- Ethereum (ETH): 130.1 ETH, valued at 50 million yen
- Solana (SOL): 2,260.5 SOL, valued at 50 million yen
- Avalanche (AVAX): 12,269.9 AVAX, valued at 50 million yen
The total purchase price for these cryptocurrencies amounts to 750 million yen.
Remixpoint’s decision to invest in cryptocurrencies aligns with recent trends in the global market. The approval of Bitcoin spot ETFs by regulatory bodies like the U.S. Securities and Exchange Commission has increased accessibility and investor confidence in cryptocurrencies. Additionally, the potential for further yen depreciation has prompted Remixpoint to seek diversification in its currency holdings.
To ensure responsible cryptocurrency management, Remixpoint has implemented policies and procedures, including the establishment of dedicated investment and administration departments, regular mark-to-market valuations, and transactions through reputable exchanges.
The company’s investment strategy involves allocating 1.2 billion yen to Bitcoin and 100 million yen each to Ethereum, Solana, and Avalanche. The purchases will be executed in installments based on market conditions, with the goal of completing the investment by the end of the year. Remixpoint has committed to transparent disclosure of any significant financial impacts resulting from its cryptocurrency holdings.
