- Remixpoint has invested 750 million yen in Bitcoin, Ethereum, Solana, and Avalanche.
- The investment aims to diversify risk and manage cash amid yen depreciation concerns.
- The total cryptocurrency investment plan amounts to 1.5 billion yen, which will be completed by the end of the year.
Remixpoint Inc., a company listed on the Tokyo Stock Exchange, has announced a major investment in cryptocurrencies to manage cash and diversify risks. On September 27, the company revealed that it purchased 750 million yen worth of Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX).
This is part of a larger plan to invest a total of 1.5 billion yen in virtual currencies, aimed at reducing exposure to the Japanese yen and optimizing the company’s cash management.
According to the company’s statement, Remixpoint has acquired 64.4 BTC for 600 million yen, 130.1 ETH for 50 million yen, 2,260.5 SOL for 50 million yen, and 12,269.9 AVAX for 50 million yen.
The purchase comes after the company’s board approved the cryptocurrency acquisition on September 26, which is expected to help the company mitigate risks associated with fluctuations in traditional currencies, especially the yen.
Investing in digital assets became Remixpoint’s choice as the global fascination with cryptocurrencies surged following the U.S. approval of Bitcoin spot ETFs along with markets in Hong Kong and Australia.
The company estimates this market change as a possibility to enhance the safety of its assets from possible yen downfall and lessen the threat of an excessively high yen position.
Clear practices for handling cryptocurrency assets have been created by the organization with regular evaluations and the adoption of key exchanges for executing transactions. Plans call for Remixpoint to put 1.2 billion yen toward Bitcoin and an extra 100 million yen for Ethereum as well as Solana and Avalanche.
These purchases will be made in stages, depending on market conditions, with the goal of completing the total investment by the end of the year.
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