Japanese energy firm Remixpoint has made a cumulative $59 million investment in its crypto reserves, expanding it with the addition of XRP and Dogecoin worth millions of dollars.
While $59 million represents a 9 billion yen investment as of February 13, the company has hinted at sticking to its 10-billion-yen purchase plan. The effort was decided in a bid to help the company gain wide access to the crypto market.
According to its latest report, the company now holds a lion’s share of Bitcoin in its reserves, with Ethereum following up closely. Remixpoint also holds a commendable share of Solana, with the new report now confirming that the company holds new additions, XRP and Dogecoin.
Remixpoint continues to stack up digital assets
According to its document, Remixpoint has Bitcoin worth 7.4 billion yen (approximately $48.6 million), Ethereum worth 600 million yen (approximately $3.94 million), Solana worth 400 million yen ($2.63 million), XRP worth 400 million yen (approximately $2.63 million), with Dogecoin worth 200 million yen ($1.31 million).
The total worth of the total stash is about 9 billion yen, bringing it a little bit shy of the company’s 10 billion yen investment goal. It also represents an increase of over 13,000% compared to its holdings nearly a year ago. As of March 2024, the company only had about 68 million yen (approximately $446,5000) worth of digital assets.
The company had initially made the purchase of several digital assets, including Solana, Bitcoin, Ethereum, and Avalanche, to hedge against the devaluation of the yen and diversify its assets. In October, the company increased its Bitcoin stash, taking the cumulative balance to 125 BTC. The company made further expansions in November and December, increasing its Bitcoin holding to 299 BTC by the end of the year.
Early January 2025, Remixpoint increased its Bitcoin holding by 33 BTC, taking the total to 500 million yen ($3.2 million). The total stash was about 333 BTC, worth $31.7 million in the market. The firm also announced the commitment of 2 billion yen ($12.89 million) to its crypto investments. By the beginning of February, the total Bitcoin holding had reached 5.6 billion yen ($38 million), signifying a big 8,000% increase over nine months.
XRP and Dogecoin enjoy institutional interests
With Remixpoint’s current digital assets holdings at 9 billion yen, a little shy of its 10 billion yen goal, it underscores the wide appetite of these firms in the crypto industry. There has also been a huge accumulation of Bitcoin and other assets by firms globally, showing that the crypto market may soon become the go-to place for the top firms.
While Strategy has already taken the initiative to push for the adoption of Bitcoin through its investments, firms are now seeing the beauty in accumulating the asset that was previously called speculative some years after it burst into the limelight.
With Bitcoin seeing a wide range of support from institutional players and corporate firms, XRP and Dogecoin are also seeing their fair share of institutional interest, with Remixpoint’s $3.9 million allocation to the two assets showing the much-needed belief by another corporate entity. The investment is coming after both assets enjoyed a boost in their prices from November 2024 to January 2025, with XRP seeing a rise of 336% over the period.
In addition, the institutional interest has led to the filing of exchange-traded funds (ETFs) of both XRP and Dogecoin, with the investment products tipped to make it easier for these players to gain exposure to the assets. A previous SEC publication acknowledged the 19b-4 filings for both Dogecoin and XRP.
While XRP has continued to fight off the United States Securities and Exchange Commission (SEC) in a never-ending legal battle, the token has been doing well to the appreciation of the ‘XRP Army’, the legion of supporters who have always backed the token, even through tough times. With Trump’s re-election, there has been chatter that the case may likely have a favorable end.
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