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Remixpoint takes gains on altcoins, dogecoin sale ends in a loss

The Japan-listed firm sold 2.8 million DOGE for about $234,000 on Sept. 1, a roughly $21,000 shortfall versus its fiscal-year opening book value, and will shift remaining holdings to bitcoin.

Reported · Written up by our desk · Market Structure

CoinDesk reported that Japan-listed Remixpoint booked a roughly $742,000 net gain from selling ether, solana and XRP on Sept. 1, even as its dogecoin position lost money in the selloff.

According to CoinDesk, Remixpoint sold 2.8 million DOGE for about $234,000, which was about $21,000 below its fiscal-year opening book value for the token. The company said it acted after reviewing market conditions and the tokens' risk and return profiles.

CoinDesk said ether generated a gain of about $379,000, solana about $311,000, and XRP about $72,000, with the company liquidating all four altcoin positions on the same day.

Following the trades, Remixpoint retains about 1,506 bitcoin, worth more than $115 million at Thursday prices, leaving bitcoin as its only remaining cryptocurrency.

Latest closeBitcoin $77,603.86 ▲0.4%|Solana $100.17 ▼0.2%|XRP $1.361 ▲0.8%

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