Japan’s Remixpoint Adds $3.2M in Bitcoin to Its Crypto Portfolio

Remixpoint, a Japanese energy and automotive company, has jumped on the recent surge in Bitcoin prices by adding $3.2 million worth of the cryptocurrency to its holdings. The company announced that it had purchased 500 million yen (approximately $3.2 million) in Bitcoin, bringing its total holdings to 250.13 BTC, valued at about 3.67 billion yen ($24.16 million) based on current market prices.

This move comes amid Bitcoin’s recent price surge, which saw the cryptocurrency hit an all-time high of $99,645 on November 22, before stabilizing around $93,092 at the time of writing. Remixpoint, based in Tokyo, cited both Bitcoin’s upward price trend and the political backdrop of Donald Trump’s U.S. presidential election win as factors influencing its decision to further invest in the digital currency.

The company, which began investing in cryptocurrencies on September 26 of this year, now holds a diverse portfolio of six different digital assets, with Bitcoin being the most prominent. Remixpoint’s broader strategy is driven by the desire to diversify its assets amidst a weakening yen and the volatile global economic environment. The firm’s crypto investments, including its latest Bitcoin acquisition, now amount to over 3.8 billion yen (about $25.4 million).

If the new Bitcoin purchase has any significant impact on Remixpoint’s financial records, the company has pledged to disclose that information promptly. According to Coinpost, a Japanese media outlet, Remixpoint’s crypto portfolio has already generated unrealized gains of approximately 810 million yen ($5.3 million).

As of November 20, Remixpoint’s holdings include 215.76 BTC valued at 3.17 billion yen ($20.8 million), making it the company’s largest investment. Solana (SOL) is its second-largest investment, with 9,674.37 SOL worth 360 million yen ($2.36 million). The company has also invested in Ethereum (ETH), holding about 227.87 ETH, valued at 110 million yen ($723,279). Other investments are spread across Avalanche (AVAX), Dogecoin (DOGE), and Ripple (XRP).

The growing interest in cryptocurrencies among Japanese companies is part of a broader trend as businesses look to hedge against the challenges facing the nation’s economy. One notable example is Metaplanet, which has accumulated a Bitcoin stash of 1,142 BTC, worth $106.31 million at current prices.

Founded in 2004 and listed on the Tokyo Stock Exchange in 2006, Remixpoint initially operated in the software sector. However, the company has since pivoted toward the energy and automobile industries, with its recent foray into digital assets marking an important step in its diversification strategy.