Japan's Remixpoint Invests IDR 80 Billion In Bitcoin, Ethereum, Solana, And Avalanche

Japan's Remixpoint invests IDR 80 billion in Bitcoin, Ethereum, Solana, and Avalanche (Photo; Doc. Remixpoint)

JAKARTA - Japanese technology company Remixpoint, which is listed on the Tokyo Stock Exchange, has announced large investments in some of its leading crypto assets. Using its financial reserves, Remixpoint bought Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) with a total value of 5.3 million US Dollars (approximately IDR 80 billion). This move is part of the company's new cash management strategy aimed at diversifying assets and reducing the risk of fiat currency volatility.

In an official report released by the company and confirmed by Japanese local media CoinPost, Remixpoint revealed that the purchase consisted of:

This purchase is part of the company's plans to acquire crypto assets worth more than 10.5 million US Dollars (approximately IDR 158 billion) by the end of the year.

Remixpoint's strategy is not only focused on Bitcoin, but also includes other crypto assets such as Ethereum and altcoin (SOL and AVAX) to reduce the risk of volatility. This step was taken in response to the company's concerns regarding the possible depreciation of Japan's yen value in the future. By investing part of its surplus funds into crypto assets, Remixpoint hopes to reduce the risk of fluctuating fiat currency value.

According to Remixpoint, this purchase will be made in stages, depending on market conditions, and is expected to be completed before the end of 2024. The company also stated that it would soon reveal the impact of this purchase on its financial outcomes if there was a significant impact.

This announcement has had a positive impact on Remixpoint's share price on the Tokyo Stock Exchange. Since this announcement, the company's share price has jumped to JPY 178, the highest since early August. This reflects market optimism for the new investment strategy the company has taken, especially in the face of Japan's fiat currency volatility.

Remixpoint, founded in 2004 and initially focused on the software industry, has now expanded its business to the energy and auto trading sector. In addition, the company is also known for launching the BITPoint crypto exchange in 2016, although it later sold it to rival crypto exchange operator SBI last year.