Remixpoint (3825), a Japanese energy consulting firm that decided to build up cryptocurrency reserves, boosted its holdings by more than 8,000% in the nine months ended Dec. 31 and is now close to having spent its target of 10 billion yen ($65 million).
The Tokyo-based company held 5.8 billion yen ($38 million) of crypto at year-end, up from 68 million on March 31. It had spent 9 billion yen on crypto as of Thursday, it said in an earnings presentation, without giving the current value of its holdings.
While Remixpoint focuses on energy consultancy, it has recently expanded to provide cryptocurrency transaction services after starting to investing in bitcoin (BTC) as a hedge against the depreciation of the Japanese currency. That’s the same strategy as Metaplanet, a Japanese investment company whose BTC investment program announced last April sent its stock soaring by several thousand percent.
The lion’s share of Remixpoint’s…
