Japan’s Remixpoint Sells All Altcoins, Shifts Crypto Holdings to Bitcoin

Japan-listed Remixpoint has sold all of its Dogecoin, Ether, Solana and XRP holdings, recasting its digital-asset strategy around Bitcoin.

CoinDesk reported on September 3 that Remixpoint sold about 2.8 million Dogecoin on September 1 for about $234,000. The transaction generated a loss of about $21,000 compared with the carrying value at the start of the current fiscal year. The figure was based on the book value at the beginning of the fiscal year, not the original purchase price.

The company also sold all of its Ether, Solana and XRP holdings that day. It recorded gains of about $379,000 on Ether, about $311,000 on Solana and about $72,000 on XRP. Including the Dogecoin loss, total profit from the sale of the four tokens came to about $742,000.

Remixpoint said it exited its altcoin positions after reviewing market conditions and the risk-return profile of each digital asset. It plans to concentrate its crypto portfolio in Bitcoin going forward.

Dogecoin is among the major digital assets traded in Japan’s regulated market. Registered crypto exchanges in Japan have offered Dogecoin since 2022, and the Japan Virtual and Crypto assets Exchange Association, or JVCEA, has published official DOGE-yen reference prices this year alongside Bitcoin, Ether, XRP and Solana.

Following the altcoin sales, Bitcoin is the only crypto asset remaining on Remixpoint’s books. The company currently holds about 1,506 BTC, valued at more than $115 million based on September 3 prices.