Japanese Biz Giant Remixpoint Buys BTC, ETH, SOL, AVAX With Balance Sheet
Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked...
The crypto-keen, stock market-listed Japanese firm Remixpoint has announced it has used its balance sheet to buy Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) holdings.
Per an official Remixpoint announcement and a report from the Japanese-language media outlet CoinPost, Remixpoint has spent almost $5.3 million on its latest crypto purchases.
The firm said it had bought the following coins:
Remixpoint spent around $4.22 million on its Bitcoin buy, as well as around $351,700 apiece on its ETH, SOL, and AVAX purchases.
The company, which is listed on the Tokyo Stock Exchange, has recently unveiled wider plans to buy over $10.5 million worth of Bitcoin, ETH, and altcoins.
Remixpoint’s board of directors confirmed the move at a meeting held on September 26. The company said its move was part of its revamped “cash management strategy.”
The company has expressed a desire to prioritize BTC purchases, but also wants to use ETH and alts to diversify its portfolio.
Japan's incoming PM Ishiba calls for loose monetary policy https://t.co/px3zY7UoBN pic.twitter.com/B1EzPdQsiS
The news appears to have buoyed the company’s share prices on the TYO, which rose to its highest price (JPY 178) since early August (JPY 182 on August 9).
The company said its purchases will be made in installments and “based on market conditions.”
However, its “goal” is to “complete the purchases” by the end of the year. And it said that if its crypto purchases have a “significant impact” on its consolidated financial results in the future, Remixpoint
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