Japan-Listed Remixpoint Sells Altcoins for Bitcoin, Dogecoin the Only Loser

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ETH
$2,713.795.41%
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SOL
$115.877.18%
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XRP
$1.488.06%
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DOGE
$0.092719.44%
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BTC
$84,224.904.82%
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Japan-listed Remixpoint sold ether, solana, XRP, and dogecoin on Sept. 1, with DOGE as the only losing trade. The firm gained $379,000 from ether, $311,000 from solana, and $72,000 from XRP, but lost $21,000 on 2.8 million DOGE. Remixpoint now holds 1,506 Bitcoin, valued at over $115 million. Bitcoin analysis shows the asset remains a top choice for institutional players.

Japan-listed Remixpoint made money when it reported selling ether ETH$2,400.89, solana (SOL) and XRP on Wednesday. Dogecoin DOGE$0.08266 was the exception.

The company sold 2.8 million DOGE on Sept. 1 for about $234,000, roughly $21,000 below its fiscal-year opening book value. Ether produced a $379,000 gain, solana $311,000 and XRP about $72,000, leaving Remixpoint with a roughly $742,000 gain across the four positions.

The DOGE loss is measured against the value Remixpoint carried the position at when its current fiscal year began, rather than its original purchase cost. The company sold all four altcoins on the same day.

The loss stands out because dogecoin is no fringe token in Japan. DOGE has been traded by registered Japanese crypto exchanges since 2022, and the Japan Virtual and Crypto Assets Exchange Association, the industry’s recognized self-regulatory body, began publishing an official DOGE/JPY reference price this year alongside bitcoin, ether, XRP and solana.

Remixpoint said it sold the four tokens after reviewing market conditions and their risk-return characteristics, and will now concentrate its crypto holdings in bitcoin.

The company still owns about 1,506 BTC, worth over $115 million at Thursday prices, making bitcoin its only remaining cryptocurrency.

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