Japanese firm Remixpoint continues its crypto investment strategy, bolstering its BTC holdings to hedge against yen risks.
Remixpoint Ramps Up Bitcoin Investments
Remixpoint, a Japanese stock market-listed company, plans to invest $3.2 million in Bitcoin by year-end. The firm revealed its strategy in an official release, responding to Bitcoin’s price surge post-halving.
Past Investments in Ethereum, Solana, and More
Earlier this year, Remixpoint invested $5.3 million in Bitcoin, Ethereum (ETH), Solana (SOL), and Avalanche (AVAX). It also holds XRP and Dogecoin (DOGE) to diversify its crypto portfolio further.
The company sold its crypto exchange BITpoint to SBI in 2023, focusing instead on direct cryptocurrency holdings.
Rationale Behind the Purchase
Remixpoint cited Bitcoin’s upward trend and the anticipated influx of institutional investors after spot crypto ETF approvals. The strategy also aims to counter risks associated with yen depreciation.
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“We expect more institutional investors to enter the market following the approval of crypto spot ETFs,” the company noted.
Shareholder Endorsement and Financial Impact
Shareholders approved the firm’s strategy to hedge against fluctuations in yen-denominated assets. Remixpoint’s crypto portfolio has already amassed unrealized gains of $5.3 million, reflecting its successful diversification efforts.
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The company emphasized that any significant financial impact from the new BTC purchase would be disclosed promptly.
Strategic Shift Toward Crypto Investments
Founded in 2004, Remixpoint initially operated as a software firm before shifting toward electricity and automobile trading. Its recent pivot to crypto investments aligns with its goal of reducing exposure to volatile fiat currencies.
Disclaimer:
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