Japanese public company Remixpoint sold all of its Ethereum, Solana, XRP, and Dogecoin holdings on September 1, leaving Bitcoin as the sole cryptocurrency in its treasury.
From the divestment of these tokens, the company recorded a profit of ¥117.8 million. While this profit figure aligns with previous reports, the latest filing provides specific details regarding its primary holdings. Prior to the sale, its Ethereum and Solana holdings generated ¥29,874,959, or roughly $151,800, in passive income purely from combined staking rewards.
However, that altcoin revenue was still overshadowed by the income generated from Bitcoin.
Why Choose a Single-Asset Strategy
Management’s decision to offload altcoins stemmed from current market conditions, the risk-return profiles of each token, and strategic adjustments to the company’s financial direction.
The move resulted in a new policy placing Bitcoin at the core of the firm’s crypto strategy. This shift in investment approach was adopted in pursuit of greater capital efficiency.
Remixpoint’s financial balance sheet supports this transition. Its Bitcoin lending program generated 14.92055902 BTC between February 24 and August 31. Fee income from the lending totaled ¥164,218,522, or approximately $834,300.
Remixpoint now holds 1,501 BTC valued at $116.1 million, according to data from Bitcoin Treasuries. This stash ranks the company 38th globally among public companies holding Bitcoin. The 1,501 BTC figure corrects earlier reports citing 1,506 BTC, a discrepancy resulting from different reporting cut-off dates.
Wave of Corporate Treasury Migrations
Remixpoint’s pivot is part of a broader trend where numerous corporations are reallocating their treasuries toward Bitcoin-only holdings.
Corporate Bitcoin purchases have surged in recent weeks. In April, publicly traded Metaplanet added 5,075 BTC to its reserves, pushing its total holdings to 40,177 BTC.
In August, Metaplanet agreed to allocate 2,100 BTC plus $2.5 million in cash to Super League Enterprises. During the same month, Zhibao Technology also received a transfer of 2,380 BTC through a $154.7 million private placement funded directly with Bitcoin.
For institutional observers, this series of corporate asset reallocations underscores the trajectory of institutional adoption. As companies conclude that altcoins are no longer viable for long-term holding, Bitcoin takes on the definitive role as the primary store-of-value instrument on corporate balance sheets.
Reported by Decrypt.
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Disclaimer: This article is for informational and educational purposes only, not financial advice. Cryptocurrency assets are highly volatile and carry significant risk. Always do your own research (DYOR) and never invest more than you can afford to lose.
