Remixpoint (3825), a Japanese energy consultant company that decided to build cryptocurrency -reserves, increased its shares by more than 8,000% in the nine months ending 31 December and is now close to spending its target of 10 billion yen ( $ 65 million).
The Tokyo-based company had 5.8 billion yen ($ 38 million) crypto at the end of the year, up from 68 million on March 31. It had spent 9 billion yen on crypto from Thursday, it said in an earnings presentation without providing current value of its inventory.
While Remixpoint focuses on Energy Consultancy, it has recently expanded to supply cryptocurrency transaction services after starting investing in Bitcoin (BTC) as a hedge against the depreciation of the Japanese currency. It is the same strategy as the Metaplanet, a Japanese investment company whose BTC investment program announced last April last year sent its share soar by several thousand percent.
The lion’s share of Remixpoint’s investments was awarded Bitcoin, while the company also invested invested in Ether (ETH), SOL XRP and Dogecoin (DOGE).
The investment has revealed in the third-quarter fiscal report report, experiencing a profit of 1.35 billion yen and an unrealized gain of 658 million on its cryptocurrency holdings. From November 2024, the company began to recognize valuation gains and losses on its cryptocurrency holdings as part of revenue.
The company increased its cryptocurrency -accumulation considering the rally in cryptocurrency prices since Donald Trump’s victory in the US presidential election, which brought a friendlier regulatory environment into the crypto industry.
The company’s shares have risen more than 360% since Trump’s election victory. Since then, the company has accelerated its crypto accumulation, more than quadrupling its Bitcoin stocks to 125.2 BTC.
Remixpoint’s shares tumbled 15% on Friday, while the wider Nikkei 225 index fell only 0.79%.
