Japanese stockbroker Remixpoint has purchased a significant amount of cryptocurrency. The Tokyo Stock Exchange-listed firm announced on September 26 that it has purchased 1.5 billion yen (approximately $10.55 million) worth of cryptocurrency.
Here are the Altcoins and Amounts Purchased by the Japanese Company
The company revealed details of its acquisitions, including the following breakdown:
- Bitcoin (BTC): 64.4 BTC, worth 600 million yen
- Ethereum (ETH): 130.1 ETH, worth 50 million yen
- Solana (SOL): 2,260.5 SOL, worth 50 million yen
- Avalanche (AVAX): 12,269.9 AVAX, worth 50 million yen
The purchase, totaling 750 million yen, is part of a larger investment strategy announced earlier this week. Remixpoint’s board of directors approved the move to buy cryptocurrencies as part of the company’s broader cash management approach.
The timing of this investment comes amid heightened interest in global cryptocurrency markets, with the approval of a Bitcoin spot ETF by the U.S. Securities and Exchange Commission (SEC). Bitcoin spot ETFs have also been launched in Hong Kong and Australia, further fueling interest in digital assets. Additionally, the emergence of Ethereum spot ETFs has strengthened the case for institutional cryptocurrency investment.
Remixpoint is positioning itself against the yen’s potential depreciation by allocating a portion of its surplus funds to digital currencies, aiming to reduce its reliance on the Japanese yen and diversify its currency risk.
The company has also implemented a comprehensive risk management strategy surrounding cryptocurrency investments, which includes establishing dedicated departments for investment management and administration, quarterly market valuations, and using major cryptocurrency exchanges for transactions.
*This is not investment advice.
