Japan's Remixpoint Dumps XRP, ETH, SOL and DOGE to Go All-In on Bitcoin

Japanese firm Remixpoint sold its entire altcoin portfolio in a single session on September 1, pocketing a ¥117.77 million ($598,400) profit while consolidating its crypto treasury exclusively into Bitcoin.

The move marks a sharp reversal from a diversification bet the company made just months earlier.

From Altcoin Diversification to a Bitcoin-Only Standard

Back in June, Remixpoint pursued a different strategy entirely. Seeking to protect capital from a weakening yen, the company built a position of roughly 1.2 million XRP tokens while also adding Solana and Dogecoin to its balance sheet.

Internal financial models at the time projected that revenue from that crypto segment would reach up to ¥12.44 billion ($63.21 million). Management's thinking shifted over the summer, however, after assessing the market risks and volatility tied to holding multiple altcoins.

Leadership settled on what the company called a selection-and-concentration strategy. On September 1, Remixpoint liquidated all its altcoin positions in a single trading day.

… Continue reading the full article at the original source below.