Japan-listed Remixpoint sells all ETH, SOL, XRP and DOGE holdings in shift to bitcoin-only crypto strategy

Japan-listed Remixpoint sold its entire altcoin portfolio as the company shifts to a bitcoin-only cryptocurrency strategy.

Remixpoint sold 901.45 ETH, 13,920 SOL, 1.19 million XRP, and 2.8 million DOGE on Sept. 1 for a combined ¥878.8 million ($5.5 million), according to a translation of a company disclosure on Wednesday. The sales generated a ¥117.8 million ($737,000) gain over their combined book value of ¥761 million.

Remixpoint realized gains of ¥60.2 million ($377,000) on its ETH position, ¥49.3 million ($308,000) on SOL, and ¥11.5 million ($72,000) on XRP. However, it recorded a ¥3.3 million ($21,000) loss on DOGE. The company said it decided to sell the altcoins after considering market conditions, their risk-return characteristics, and its financial strategy.

Bitcoin-only

Bitcoin is now Remixpoint's only cryptocurrency holding, with the company owning approximately 1,506 BTC, worth around $115.3 million at current prices. Remixpoint said concentrating its crypto portfolio around bitcoin would clarify its investment strategy and improve capital efficiency.