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Remixpoint Invested 750 Million Yen in Cryptocurrency

Sep 29, 2024
  1. Remixpoint's Cryptocurrency Investment
  2. Details of Cryptocurrency Purchases
  3. Remixpoint's Risk Management Strategy

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.

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