Japanese listed company Remixpoint sells all ETH, SOL, XRP, and DOGE holdings, shifts to a Bitcoin-only crypto strategy.
Japanese listed company Remixpoint sold its entire altcoin portfolio on September 1, including 901.45 ETH, 13,920 SOL, 1.19 million XRP, and 2.8 million DOGE, totaling approximately 878.8 million JPY (approximately $5.5 million). The sale generated a book profit of 117.8 million JPY (approximately $737,000), with ETH, SOL, and XRP all realizing profits, while DOGE recorded a small loss. Remixpoint stated that the move was based on considerations of market conditions, risk-reward characteristics, and financial strategy. Currently, Bitcoin is Remixpoint's only cryptocurrency holding, with approximately 1,506 Bitcoins valued at about $115.3 million. The company believes that concentrating its crypto investment portfolio on Bitcoin will help clarify its investment strategy and improve capital efficiency. Additionally, Remixpoint earned 14.92 Bitcoins in fees, valued at approximately $1 million, through Bitcoin lending between February 24 and August 31. The company's stock closed down 5% in Tokyo on Wednesday.
Source:The Block · Source Link
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