Japanese Firm Remixpoint Raises $215M for Bitcoin Purchase

Japanese energy consulting firm Remixpoint has announced a substantial investment of $215 million (approximately ¥31.5 billion) to acquire Bitcoin. According to a recent tweet, the company raised the funds through a recent financing effort.  Every bit of this capital will be invested directly in increasing its exposure to the largest cryptocurrency.

Remixpoint Plans to Acquire 3,000 BTC

Remixpoint, already holding 1,051 BTC, plans to hold 3,000 BTC soon. This goal reflects the firm’s confidence in Bitcoin’s potential. It also positions the company among Japan’s largest corporate holders of Bitcoin, reflecting a strategic shift towards cryptocurrencies as a store of value.

Meanwhile, Remixpoint shared that this decision was made after careful consideration within the company. Some team members had concerns. However, the company’s board fully agreed that investing in Bitcoin could enhance long-term value and maintain the business’s flexibility for future opportunities.

“Even within the company, there were a variety of opinions. I imagine there will be mixed opinions among shareholders. However, in the end, all executives came to the conclusion that this decision will not necessarily lead to an increase in corporate value from a risk-return perspective as Remixpoint moves to the next stage. We are also looking to increase our options for the future,” the company stated.

Remixpoint CEO to Be Paid Fully in Bitcoin

In a related development, Remixpoint’s new CEO, Takashi Tashiro, has opted to receive his entire salary in Bitcoin. This approach involves calculating his compensation and taxes in Japanese yen. The net amount is then converted to Bitcoin and transferred to a wallet of his choice.

Tashiro explained that the decision aims to demonstrate his full commitment to the company’s future to shareholders. This marks the first time a publicly listed company in Japan will pay its CEO’s entire compensation in cryptocurrency.

Remixpoint’s substantial Bitcoin acquisition reflects a broader confidence in the cryptocurrency’s role as a hedge against inflation. It also highlights its potential as a means of diversifying corporate assets. Strategy popularized this practice of accumulating BTC, and many companies have followed suit. They include Metaplanet, Galaxy Digital Holdings, and Semler Scientific. Many of these firms have leveraged debt financing to bolster their Bitcoin holdings.

The post Japanese Firm Remixpoint Raises $215M for Bitcoin Purchase appeared first on Cointab.