Japan’s Remixpoint buys 33.3 additional bitcoin, boosting holdings to nearly $32 million

Remixpoint, a Japanese energy consulting firm, has acquired an additional 33.34 BTC for 500 million yen ($3.2 million) as the Tokyo-listed company continues to prioritize crypto asset investments.

In a statement released Friday, Remixpoint disclosed that its additional purchase of 33.34 BTC brought its total bitcoin holdings to nearly 333.19 BTC ($31.7 million). 

The company also held 1,391.3 ETH ($4.4 million), 6,724.5 SOL ($1.2 million), 513,060 XRP ($1.3 million), 19,468.9 AVAX ($694,650) and 1.15 million DOGE ($402,500), according to the statement.

In a bid to hedge against the depreciation of the Japanese yen, Remixpoint announced in September that it decided to start investing in and holding cryptocurrencies as part of its cash management strategy to “diversify the risk of currency value fluctuations and reduce our exposure to the Japanese yen.”

Remixpoint’s bitcoin acquisition strategy follows those of MicroStrategy and Metaplanet. MicroStrategy — which remains the largest corporate holder of bitcoin — disclosed on Monday that it acquired an additional 2,530 BTC for about $243 million between Jan. 6 and Jan. 12, increasing its total holdings to 450,000 BTC.

On the other hand, Metaplanet, a Japanese investment firm, announced last week that it aims to expand its bitcoin holdings to 10,000 BTC within this year. It currently holds about 1,761.98 BTC following its recent purchase of 619.7 BTC on December 23.

Remixpoint primarily sells energy management systems and offers energy-saving support consulting services in Japan. Its Tokyo-listed stock has traded up 3.7% so far in the afternoon session on Tuesday and has risen 12.7% since the beginning of this year, according to Yahoo Finance.