Japanese energy consultancy Remixpoint has further solidified its commitment to cryptocurrency investments by purchasing 33.34 BTC for approximately 500 million yen ($3.2 million).
Japan’s Remixpoint Buys 33.3 Additional Bitcoins, Crypto Assets Near $32 Million
According to the statement, the purchase increases the Tokyo-listed company's total Bitcoin holdings to 333.19 BTC, worth approximately $31.7 million.
In addition to Bitcoin, Remixpoint announced that its cryptocurrency portfolio includes:
- 1,391.3 ETH ($4.4 million)
- 6,724.5 SOL ($1.2 million)
- 513,060 XRP ($1.3 million)
- 19,468.9 AVAX ($694,650)
- 1.15 million DOGE ($402,500)
Diversification and Currency Hedging
Remixpoint’s move is in line with its strategy to hedge against the depreciation of the Japanese yen. The company announced in September 2024 that it would begin investing in cryptocurrencies to “diversify the risk of currency value fluctuations and reduce exposure to the Japanese yen.”
This strategic shift mirrors trends among other prominent cryptocurrency investors.
- MicroStrategy, the largest institutional Bitcoin holder, announced earlier this week that it purchased 2,530 BTC for $243 million, bringing its total holdings to 450,000 BTC.
- Metaplanet, a Japanese investment firm, announced plans to increase its Bitcoin holdings to 10,000 BTC by 2025. It currently holds 1,761.98 BTC after purchasing 619.7 BTC in December.
Core Business and Market Performance
While Remixpoint is best known for selling energy management systems and providing energy saving consulting services in Japan, its focus on cryptocurrency investment has drawn attention.
The company's shares responded positively, rising 3.7% in the afternoon session on Tuesday and are up 12.7% year-to-date, according to Yahoo Finance.
*This is not investment advice.
