Remixpoint has exited its ether, Solana, XRP and Dogecoin positions, booking gains on three of the four assets as it moves toward an all-Bitcoin crypto strategy.
The Japan-listed company said Wednesday that its Sept. 1 sales generated profits from ETH, SOL and XRP, while DOGE was the only token sold below its fiscal-year opening book value.
Remixpoint disposed of 2.8 million DOGE for approximately $234,000, resulting in a loss of about $21,000 compared with the value recorded at the beginning of its current fiscal year. By comparison, the company made around $379,000 on ether, $311,000 on Solana and $72,000 on XRP.
Taken together, the four transactions produced a net gain of approximately $742,000.
The Dogecoin loss does not reflect the difference between the sale price and Remixpoint’s original purchase price. Instead, it was calculated using the book value assigned to the DOGE position when the company entered its current fiscal year. Remixpoint sold all four altcoins on the same date.
DOGE’s result is notable because the token has an established presence in Japan. Registered Japanese crypto exchanges have offered Dogecoin trading since 2022. Earlier this year, the Japan Virtual and Crypto Assets Exchange Association, the country’s recognized crypto industry self-regulatory body, also began publishing an official DOGE/JPY reference price alongside Bitcoin, ether, XRP and Solana.
Remixpoint said it reviewed market conditions and the risk-return characteristics of the four assets before deciding to sell them. The company will now focus its cryptocurrency exposure exclusively on Bitcoin.
Its remaining crypto portfolio consists of about 1,506 BTC, worth more than $115 million based on Thursday’s prices.
