Tokyo-listed Remixpoint boosts Bitcoin reserves with $1.4m purchase

Remixpoint’s latest Bitcoin purchase of $1.38 million boosts its total crypto holdings to a market value of $34.3 million, reflecting a profit of nearly $6.72 million. Japan ‘s energy and automotive business consulting company Remixpoint has acquired an additional Bitcoin ( BTC ) for $1.38 million, bringing the total amount under its crypto investment portfolio to $27.59 million, Yahoo Japan reports . On Monday, Dec. 9, the company announced that it had completed the additional purchase of 13.24 BTC on Dec. 5 and Dec. 6, utilizing ¥213.9 million (approximately $1.38 million) of its planned ¥1.5 billion ($10.34 million) digital asset investment. The purchase price per Bitcoin was ¥15.1 million ($102,000), with the total number of BTC acquired now reaching 282.87 BTC. The latest purchase is part of Remixpoint’s broader strategy, as the company had previously revealed plans to buy up to ¥1.5 billion worth of crypto. On Dec. 5, it had already purchased 20.84 Bitcoin for ¥300 million ($2.07 million). You might also like: SBI VC trade to acquire Japan’s DMM Bitcoin following May hack With this latest acquisition, Remixpoint’s total crypto holdings now include not only Bitcoin but also Ethereum (227.87 ETH), Solana (9,674.37 SOL), Avalanche (11,875.99 AVAX), Dogecoin (828,500.41 DOGE), and XRP (295,333.73 XRP). The overall acquisition cost of these assets totals ¥4 billion ($27.59 million). Established in 2004 and listed on the Tokyo Stock Exchange in 2006, Remixpoint initially operated in the software sector but has since expanded into electricity and automobile trading. In the past year, several Japanese investment firms have also turned to crypto investments to address the country’s economic challenges. One of the most prominent examples is Metaplanet, which has accumulated a Bitcoin trove of 1,142 BTC, valued at $106.31 million at current prices. Read more: Chainalysis: ETH scams linked to Japanese crypto exchanges drop 69% in H1 2024