Remixpoint, a Japanese energy company, has approved a new purchase of 1 billion Japanese yen Bitcoin, which has brought its total crypto investment at around $ 84 million.
The Japanese Consultancy Remixpoint has approved a new Bitcoin (BTC) purchase of ¥ 1 billion (about $ 7 million), which brought its total investment in Crypto assets at ¥ 12 billion (about $ 84 million), the company said in one legal submission On Monday.
The company has already spent ¥ 10.5 billion on ¥ 11 billion that was previously approved for cryptocurrencies, is the submission. Remixpoint said that the extra ¥ 1 billion would be purchased from Bitcoin “while the market conditions are being considered.” It has not specified a purchase date or expected price.
Remixpoint said it will continue to assess its crypto companies every quarter, which states that “the balance of Crypto activa will be held on the market on a quarterly basis, and the resulting profits or losses will be set on the profit and loss account.”
After the announcement, shares of Remixpoint jumped with 5.26% and closes 580 yen on the Tokyo Stock Exchange.
Remixpoint, founded in 2004 and was mentioned publicly, started as a software provider before he expanded to electricity and automobile trade. In the past year, the company has increased its exposure to cryptocurrencies and joined a small but growing group of Japanese companies that take Bitcoin as part of their financial strategy.
In 2023, various local companies turned to crypto as a hedge in the midst of economic uncertainty. Among them, Metaplanet has emerged as one of the largest business holders of Bitcoin in the country, with 1,142 BTC now appreciated at more than $ 125 million.
