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Remixpoint shifts to bitcoin-only, sells all ETH, SOL, XRP, DOGE

The company sold its full altcoin portfolio on Sept. 1 for ¥878.8 million, booking a ¥117.8 million gain versus book value, and now holds about 1,506 BTC.

Reported · Written up by our desk · Market Structure

Japan-listed Remixpoint has exited its holdings in major altcoins, selling all of its ETH, SOL, XRP, and DOGE to move to a bitcoin-only crypto strategy, The Block reports.

According to a translation of a company disclosure, Remixpoint sold 901.45 ETH, 13,920 SOL, 1.19 million XRP, and 2.8 million DOGE on Sept. 1 for a combined ¥878.8 million, or about $5.5 million. The sales generated a ¥117.8 million gain, versus a combined book value of ¥761 million.

The Block reports the company booked gains of ¥60.2 million on ETH, ¥49.3 million on SOL, and ¥11.5 million on XRP, but recorded a ¥3.3 million loss on DOGE. Remixpoint said it made the decision after considering market conditions, the assets' risk-return profiles, and its financial strategy.

After the sales, Bitcoin became its only cryptocurrency holding, with approximately 1,506 BTC valued around $115.3 million at current prices. The company also said it earned 14.92 BTC in lending fees between Feb. 24 and Aug. 31 and is considering using proceeds to expand growth areas such as grid-scale battery storage.

Latest closeBitcoin $77,563.82 ▲0.2%|Ethereum $2,397.79 ▼0.8%|XRP $1.362 ▲0.8%

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