Remixpoint Invests 750 Million Yen in Cryptocurrency to Hedge Yen Depreciation

user avatar

by Giorgi Kostiuk

2 years ago

Tokyo-listed company Remixpoint, registered on the Tokyo Stock Exchange, has made a significant investment in cryptocurrencies for cash management and investment diversification.

Remixpoint's Cryptocurrency Investment

The company announced details of its purchases on September 27, investing in Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) for a combined value of 750 million yen.

Details of Cryptocurrency Purchases

Remixpoint picked up 64.4 BTC, worth 600 million yen, while adding 130.1 ETH, 2,260.5 SOL, and 12,269.9 AVAX, each for 50 million yen. These purchases are part of a wider plan to invest 1.5 billion yen into cryptocurrency, a move approved by the company's board on September 26.

Remixpoint's Risk Management Strategy

The company is investing 1.2 billion yen in Bitcoin, while each of Ethereum, Solana, and Avalanche will attract an investment of 100 million yen each. The purchases are expected to be completed by the end of this year, with acquisitions in installments depending on market conditions. Remixpoint also established a robust risk management policy for its cryptocurrency investments, which includes quarterly market value assessments, the selection of investment management departments, and the use of major exchanges for transactions.

Remixpoint aims to mitigate the impact of a weak yen by diversifying its holdings across various digital assets. This move is part of a broader plan to optimize the company's cash management strategies in the face of Japan's economic conditions.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

Bybit Partners with Franklin Templeton for Innovative Off-Exchange Collateral Program

Bybit partners with Franklin Templeton to allow institutional traders to use tokenized fund shares as collateral without depositing them on the exchange.

user avatarTando Nkube

BTCS Prepares for Tokenized Stocks Trading Under SEC Exemption

BTCS's Imperium unit has completed compliance work for potential trading of tokenized stocks under a new SEC exemption.

user avatarKofi Adjeman

21Shares Announces Staking Distributions for Five Crypto ETFs

21Shares has announced staking distributions for five crypto ETFs, converting on-chain validation rewards into cash payouts for investors.

user avatarNguyen Van Long

Soluna and Bitdeer Expand Bitcoin Mining Partnership

Soluna and Bitdeer are increasing their Bitcoin mining capacity at Project Kati 1 in South Texas, adding approximately 7 MW of mining equipment to reach a total of 35 MW, with completion expected in November 2023.

user avatarSatoshi Nakamura

Microsoft Stock Surpasses 500 Mark Amid Analyst Buy Ratings

Microsoft's stock has climbed above the 500 level, opening at 509 during Tuesday's trading session. Analysts have given MSFT a buy rating, with predictions suggesting it could reach above 600.

user avatarJesper Sørensen

Oracle Integrates with Swift's Blockchain for Enhanced Banking Payments

Oracle announced a significant integration with Swift's blockchain ledger to facilitate tokenized deposit payments for banks.

user avatarRajesh Kumar

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.