Japan’s Remixpoint Completes $3.2 Million Bitcoin Purchase

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Tim Alper

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Tim Alper

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Tim Alper is a British journalist and features writer who has worked at Cryptonews.com since 2018. He has written for media outlets such as the BBC, the Guardian, and Chosun Ilbo. He has also worked…

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Japan’s Remixpoint Completes $3.2 Million Bitcoin Purchase

Japanese firms are continuing to press ahead with their Bitcoin (BTC)-buying strategies, with the former crypto exchange operator Remixpoint completing a $3.2 million purchase.

Per the Japanese media outlet Coinpost, Remixpoint announced late last week that it had bought “additional” Bitcoin “worth 500 million yen.”

Remixpoint Bitcoin Buying to Continue

The firm announced it had added BTC 33.34 to its fast-growing holdings. Remixpoint now owns BTC 333.189.

A graph showing trading volumes on the Japanese crypto exchange bitFlyer over the past 14 days.
Trading volumes on the Japanese crypto exchange bitFlyer over the past 14 days. (Source: CoinGecko)

However, it appears that the company is not done spending on Bitcoin. On January 9, the firm announced plans to spend another $16 million on BTC.

But the company has not yet set a date for the remainder of its purchases. Instead, it says, it will gradually invest the $16 million in Bitcoin as it “assesses market trends.”

Remixpoint has also spent money on Ethereum (ETH) and altcoins in the past. But it has not yet announced any further altcoin spending plans following previous claims it had earmarked funds for wider crypto buying.

Company Also Holding Ether and Altcoins

Per official Remixpoint documentation, the company also continues to hold Ethereum, as well as Solana (SOL), XRP, Avalanche (AVAX), and Dogecoin (DOGE).

The firm made its altcoin purchases in September last year, when it also splashed out about $4.22 million on Bitcoin.

The company is listed on the Tokyo Stock Exchange and used to operate the BITPoint crypto exchange, which it launched in 2016.

In 2023, the firm finalized a deal to sell BITPoint to the securities, crypto mining, and banking firm SBI.

Remixpoint operates in the software, automobile, and electricity trading sectors. It was founded in 2004 and went public two years later.

Japanese Firms Opting for BTC

The company is not the only major Japanese company spending big on Bitcoin this year. Earlier this month, the investment firm Metaplanet announced plans to boost the size of its own Bitcoin holdings.

The firm said it wants to cement its position as “Asia’s leading Bitcoin treasury company.” It also spoke of its “goal” to “expand” its Bitcoin holdings to BTC 10,000 by the end of 2025.

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