cointelegraph.com
Remixpoint, one of Japan’s largest corporate Bitcoin holders, sold all its altcoins, leaving about 1,506 $BTC ($115 million) as its only cryptocurrency holding as it concentrates its crypto strategy around Bitcoin.
Remixpoint sold its Ether ($ETH), Solana ($SOL), $XRP ($XRP) and Dogecoin ($DOGE) holdings for a combined 878.8 million yen ($5.5 million), generating a 117.8 million yen ($736,000) gain, according to a Wednesday company disclosure.
The company recorded gains on its $ETH, $SOL and $XRP sales but sold its $DOGE holdings at a 3.26 million yen ($20,000) loss. The company completed the sale on Tuesday and expects to book the gain in the second quarter of the fiscal year ending March 2027.
Remixpoint ranks as Japan’s third-largest corporate Bitcoin holder. Source: Bitcoin Treasuries
Before the sale, Remixpoint held about 901 $ETH, 13,920 $SOL, 1.19 million $XRP and 2.8 million $DOGE. Those holdings would be worth about $2.14 million, $1.36 million, $1.57 million and $226,000, respectively, based on CoinGecko prices at the time of publication.
Remixpoint said it decided to sell the altcoins after considering market conditions, their risk-return characteristics and its financial strategy. Remixpoint said focusing its crypto portfolio on Bitcoin aims to “clarify investment strategy” and “improve capital efficiency.”
Remixpoint has also been generating returns from its Bitcoin holdings. The company earned 14.92 $BTC from lending between Feb. 24 and Aug. 31, valued at 164.2 million yen ($1 million), according to the disclosure.