Japanese Company Remixpoint Shifts to Bitcoin-Only Treasury
Japanese public company Remixpoint has sold off all its Ethereum, Solana, XRP, and Dogecoin, leaving Bitcoin as its sole cryptocurrency holding. The company disclosed that it sold these assets for ¥878.8 million ($4.47 million), resulting in a ¥117.8 million ($598,400) profit. The proceeds from the sale will be used to fund battery-storage projects and improve the company’s balance sheet.
Before the sale, Remixpoint’s Ethereum and Solana holdings generated ¥29.87 million ($151,800) in staking rewards. The company cited market conditions, risk and return characteristics of each asset, and its financial strategy as the reasons for the sale. “After comprehensively considering the market environment, the risk-return characteristics of each cryptocurrency, the company’s financial strategy, and other factors, the company decided to sell all of the altcoins it held,” the company stated.
The company’s cryptocurrency policy will now focus solely on Bitcoin, a move aimed at clarifying its approach and enhancing capital efficiency. As of the latest figures, Remixpoint holds 1,501 BTC, valued at approximately $116.1 million, ranking it 38th among public-company Bitcoin holders according to Bitcoin Treasuries.
This shift comes amid a trend of corporate Bitcoin buying, with several companies recently increasing their Bitcoin reserves. For instance, Metaplanet added 5,075 BTC in April, while Zhibao Technology received 2,380 BTC through a private placement in August.
Source: decrypt.co — Japan’s Remixpoint Dumps Ethereum, XRP in Shift to Bitcoin-Only Treasury
