Remixpoint exits altcoins, adopts bitcoin-only strategy after selling ETH, SOL, XRP, and DOGE
Japan-listed company Remixpoint has sold all its holdings in Ethereum (ETH), Solana (SOL), XRP, and Dogecoin (DOGE), moving to a strategy that holds only bitcoin (BTC).
The company sold 901.45 ETH, 13,920 SOL, 1.19 million XRP, and 2.8 million DOGE on September 1 for a total of ¥878.8 million (about $5.5 million). The sales produced a ¥117.8 million ($737,000) gain over the original book value of ¥761 million.
Remixpoint now holds approximately 1,506 BTC, worth around $115.3 million at current prices, as its sole cryptocurrency asset.
Sale details and gains
Remixpoint reported gains of ¥60.2 million ($377,000) on ETH, ¥49.3 million ($308,000) on SOL, and ¥11.5 million ($72,000) on XRP. The company recorded a ¥3.3 million ($21,000) loss on its DOGE holdings.
The decision to sell was based on market conditions, risk-return profiles, and financial strategy, according to the company.
Bitcoin focus and lending income
By concentrating its crypto portfolio in bitcoin, Remixpoint aims to clarify its investment strategy and improve capital efficiency. The company has also earned income from lending its bitcoin, receiving 14.92 BTC (about ¥164.2 million or $1 million) in lending fees between February 24 and August 31.
Remixpoint stated it may use proceeds from the altcoin sales to expand into growth areas such as grid-scale battery storage, strengthen its financial position, or pursue other measures to increase corporate and shareholder value.
Market reaction
Remixpoint’s shares closed 5% lower on September 2 in Tokyo trading.
