Key Points
- Japanese firm Remixpoint has increased its Bitcoin holdings by $3.2 million.
- The company’s total Bitcoin holdings are now worth approximately $24.16 million.
Remixpoint, a Japanese company operating in the energy and automotive sectors, has significantly increased its Bitcoin holdings. The company recently announced the acquisition of an additional $3.2 million worth of Bitcoin.
Bitcoin Investment Details
In a company notice, Remixpoint revealed that it had bought Bitcoin worth 500 million yen (around $3.2 million). As a result of this latest acquisition, the company now possesses 250.13 BTC, which equates to approximately 3.67 billion yen ($24.16 million) at current rates.
The decision to invest further in Bitcoin was influenced by the cryptocurrency’s rising price trend and the outcome of the U.S presidential election. The company plans to complete the Bitcoin purchase by the end of the year, subject to market conditions.
Remixpoint’s Crypto Portfolio
Remixpoint, based in Tokyo, began diversifying its assets by investing in cryptocurrency on September 26 this year. This decision was taken in response to the declining value of the yen. The company has since invested in six different cryptocurrencies, with Bitcoin being the primary investment, totalling more than 3.8 billion yen in cryptocurrency.
If the recent Bitcoin purchase significantly impacts the company’s financial records, Remixpoint has committed to promptly disclose this information.
According to Coinpost, a Japanese media outlet, Remixpoint’s crypto portfolio has unrealized gains exceeding 810 million yen ($5.3 million). As of November 20, Remixpoint held 215.76 BTC, valued at 3.17 billion yen ($20,8 million). The company’s second largest crypto investment is in Solana(SOL), with 9,674.37 SOL worth 360 million yen ($2,36 million).
Remixpoint has also invested in Ethereum(ETH), holding approximately 227.87 ETH worth 110 million yen ($723,279). The remainder of the company’s crypto investments are split between Avalanche(AVAX), Dogecoin(DOGE), and Ripple(XRP).
Over the past year, numerous Japanese investment firms have turned to crypto investments to counter the country’s economic challenges. The most notable firm is Metaplanet, which has accumulated a Bitcoin trove of 1,142 BTC worth $106.31 million at current prices.
Remixpoint was founded in 2004 and listed on the Tokyo Stock Exchange in 2006. The firm initially operated in the software sector before transitioning to electricity and automobile trading.