Japan’s Remixpoint to Invest $3.2M in Bitcoin, Expands Crypto Holdings

Stock market-listed Japanese firm Remixpoint has announced plans to purchase $3.2 million worth of Bitcoin (BTC) using its balance sheet, continuing its push to diversify its portfolio with cryptocurrencies.

$3.2M Bitcoin Buy Approved

According to a company release and a report by CoinPost, Remixpoint will allocate 500 million yen to buy Bitcoin before the end of 2024. This follows a shareholder-approved strategy to increase the firm’s crypto holdings, aimed at mitigating risks associated with yen depreciation.

Diversified Crypto Portfolio

In September, Remixpoint invested $5.3 million in multiple cryptocurrencies, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Solana (SOL)
• Avalanche (AVAX)

The firm also holds smaller amounts of Dogecoin (DOGE) and XRP, reflecting its commitment to a diversified crypto portfolio.

Driving Factors

Remixpoint cited upward trends in Bitcoin prices following this year’s halving event as a key motivator. The company anticipates increased market activity, particularly with the potential approval of crypto spot ETFs.

“We expect more institutional investors to enter the market following the approval of crypto spot ETFs,” the company said.

The firm highlighted its strategy to reduce exposure to yen-denominated assets, diversifying its investments to combat risks tied to currency depreciation.

Unrealized Gains

Remixpoint’s documentation revealed unrealized gains of $5.3 million across its crypto portfolio, underscoring the profitability of its early investments.

Corporate Evolution

Founded in 2004 and listed on the Tokyo Stock Exchange in 2006, Remixpoint began as a software company but has since transitioned to focus on electricity and automobile trading. The company previously owned the BITpoint crypto exchange, which it sold to SBI in 2023.

Future Outlook

Remixpoint said it would disclose any significant financial impact of its BTC purchases. The company’s crypto strategy reflects broader adoption trends as institutions increasingly turn to digital assets to hedge against traditional market risks.