Remixpoint Acquires $5.27M in BTC, ETH, SOL, and AVAX

Remixpoint Acquires $5.27M Worth of BTC, ETH, SOL, and AVAX

Tokyo Stock Exchange-listed Remixpoint Inc. has invested 750 million yen, equivalent to $5.27 million, in acquiring various cryptocurrencies. The assets include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX). This move reflects the company’s pursuit of a diversified investment strategy, with a particular focus on cryptocurrencies.

Remixpoint Finds an Alternative to Yen Depreciation

On September 26, Remixpoint allocated funds for the acquisition of the following crypto assets:

• 600 million yen for 64.4 BTC
• 50 million yen for 130.1 ETH
• 50 million yen for 260.5 SOL
• 50 million yen for 12,269.9 AVAX

This purchase is part of a broader plan to make a “1.5 billion yen cryptocurrency purchase.” With this initial acquisition, Remixpoint has achieved half of its goal. The firm is also keen on optimizing cash management strategies to protect against the effects of yen depreciation, a growing concern in Japan.

Institutional Investors Delve Into Crypto via BTC and ETH ETFs

The availability of spot Bitcoin and Ethereum ETFs on stock exchanges in Hong Kong and Australia, following their approvals by the US SEC, has simplified access for institutional investors looking to invest in cryptocurrencies. Remixpoint had already established policies regarding crypto purchases and risk management, which include:

• Selection of an investment management department and an administration department
• Clarification of their respective duties
• Quarterly mark-to-market valuations
• Executing transactions through major exchanges

Metaplanet Continues to Acquire Bitcoin

Similar to Remixpoint’s approach, Metaplanet Inc., an investment firm based in Tokyo, launched its Bitcoin accumulation strategy earlier this year. Over the last four months, the company has made several BTC acquisitions, including the purchase of 20.381 BTC in July. This acquisition helped Metaplanet reach its target of accumulating ¥1 billion worth of Bitcoin.

Recently, the Tokyo-based firm announced an ambitious strategy to significantly increase its Bitcoin holdings. It unveiled its 11th series of stock acquisition rights, involving the purchase of Bitcoin by exercising 540,000 warrants using 299,700,000 yen. Both Remixpoint and Metaplanet demonstrate their interest in bolstering their cryptocurrency portfolios as an alternative to the depreciating yen.