JAPAN'S THIRD-BIGGEST CORPORATE BITCOIN HOLDER SOLD EVERY OTHER COIN IT OWNED — FOUR TICKERS GONE FOR $5.5 MILLION — WHAT IS LEFT IS 1,506 BITCOIN AND NOTHING ELSE
Remixpoint is a Tokyo-listed company and Japan's third-largest corporate holder of bitcoin. This week it sold everything else it owned. 901 ether. 13,920 solana. 1.19 million XRP. 2.8 million dogecoin. All of it, for 878.8 million yen, about $5.5 million. The reason, in the company's own careful words, was to clarify its investment strategy and improve capital efficiency.
Look at what the basket actually returned. The whole sale booked a gain of 117.8 million yen, about $736,000. On dogecoin it took a loss of 3.26 million yen, about $20,000. Now put that beside one line further down the same disclosure: lending its bitcoin out earned 14.92 coins, roughly 164.2 million yen, about a million dollars. The side business on the bitcoin made more than the exit from all four other positions combined.
We do not run down anybody else's coins on this board and we are not starting today. Most people who end up holding bitcoin arrived through those coins first, and a company selling them is not an insult to anyone who owns them. What is worth reading is the decision itself, and the decision is about attention as much as money. A treasury holding five assets needs five theses, five risk models, five custody arrangements, and five answers ready for the board. A treasury holding one needs one.
That is the case for hard money, written in the flat language of a corporate filing. Not that everything else is worth nothing. That one thing you can defend beats five things you cannot. Fundamentalist.
Look at what the basket actually returned. The whole sale booked a gain of 117.8 million yen, about $736,000. On dogecoin it took a loss of 3.26 million yen, about $20,000. Now put that beside one line further down the same disclosure: lending its bitcoin out earned 14.92 coins, roughly 164.2 million yen, about a million dollars. The side business on the bitcoin made more than the exit from all four other positions combined.
We do not run down anybody else's coins on this board and we are not starting today. Most people who end up holding bitcoin arrived through those coins first, and a company selling them is not an insult to anyone who owns them. What is worth reading is the decision itself, and the decision is about attention as much as money. A treasury holding five assets needs five theses, five risk models, five custody arrangements, and five answers ready for the board. A treasury holding one needs one.
That is the case for hard money, written in the flat language of a corporate filing. Not that everything else is worth nothing. That one thing you can defend beats five things you cannot. Fundamentalist.
COINTELEGRAPH · Wed Sep 2 · + THE BLOCK Sep 2 · + CRYPTO.NEWS Sep 2 · company disclosure