Japanese Firm Buys Bitcoin, Ethereum, Solana Amid Yen Drop

As the Japanese Yen continues to weaken, a significant financial move has been made by Remixpoint, a publicly listed company in Japan. To hedge against the depreciation of the Japanese Yen, Remixpoint has invested approximately $5.25 million in major cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Avalanche (AVAX), and Solana (SOL).

Remixpoint’s strategic acquisition includes 64.4 Bitcoin, 2,260.5 Solana, 130.1 Ethereum, and 12,269.9 Avalanche. According to a report confirming the purchase, the company allocated around $4.2 million (600 million Japanese Yen) to acquire Bitcoin, while about $350,000 (50 million Yen) each was spent on Ethereum, Avalanche, and Solana.

Remixpoint Allocates $10.5M for Cryptocurrency Purchases

Remixpoint made this strategic move on September 27, right after publicly announcing its plans to invest $10.5 million (1.5 billion Yen) in various digital currencies. Out of this total allocation, approximately $8.4 million (1.2 billion Yen) is specifically reserved for acquiring Bitcoin. The remaining funds, around $700,000 (100 million Yen) each, are designated for purchasing Solana, Ethereum, and Avalanche.

Up to now, Remixpoint has already invested $5.25 million of the total amount in digital assets. The company intends to spend the remaining $5.25 million on additional acquisitions of Bitcoin, Solana, Ethereum, and Avalanche, contingent upon market conditions before the year’s end. This move is part of Remixpoint’s broader strategy to diversify its investment portfolio and enhance its cash management techniques.

Impacted by Japanese Yen Depreciation

The Japanese Yen has seen substantial depreciation throughout the year, falling more than any other G10 nation’s currency. Analysts at Goldman Sachs predicted that the Yen’s weakness would persist, foreseeing potential acceleration if the U.S. Federal Reserve adjusts its interest rate cuts. Four months after this forecast, the Yen hit a yearly low of 140.61 against the dollar, although it slightly recovered to 143.06.

In response to the Yen’s depreciation, Remixpoint opted to invest in Bitcoin, Avalanche, Solana, and Ethereum to mitigate its financial exposure. This approach is not isolated; other Japanese companies are also turning to cryptocurrencies to stabilize their finances. For instance, Metaplanet recently adopted a strategy similar to Microstrategy’s Bitcoin investment plan, acquiring 19.87 BTC valued at $1.27 million to counter the effects of the Yen’s devaluation.

Remixpoint’s Cryptocurrency Move Boosts Share Prices

Remixpoint’s announcement of its investments in cryptocurrencies has positively impacted its share prices. The company’s stock, which fluctuated between 159 and 164 JPY last week, surged to 179 JPY immediately following the announcement on September 26. As of today, the stock price initially rose to 181 JPY before settling at 177 JPY.