Japanese firm Remixpoint commits more capital to Bitcoin amid climb to $110k ATH
The post Japanese firm Remixpoint commits more capital to Bitcoin amid climb to $110k ATH appeared on BitcoinEthereumNews.com. Remixpoint, an energy consulting firm in Japan, has approved 1 billion Yen ($7 million) to purchase more Bitcoins. The Japanese firm disclosed this in its latest regulatory filing. According to the filing, Remixpoint has committed 12 billion yen, approximately $84 million, to crypto purchases since it decided to add crypto assets to its treasury. So far, the company has spent 10.5 billion Yen on acquiring cryptocurrencies. While it has now allocated more funds for Bitcoin, the announcement did not specify when Remixpoint will acquire the additional BTC, only noting that it would consider market conditions. It said: “The additional purchase of crypto assets this time will be Bitcoin, and the total purchase amount is expected to be 1 billion yen. The timing of the purchase will be determined based on market conditions.” Given that BTC is currently in the middle of a price rebound that has seen it gain 2% in the last 24 hours and rise to $109,000, the firm would likely plan for when there is a cooldown and drop in price so as not to buy at the top. Following the announcement, the firm’s shares on the Tokyo Stock Exchange increased by more than 5%, signaling the market’s positive reception to the development. Remixpoint made its last Bitcoin acquisition on May 15, when it spent 500 million Yen, around $3.5 million, to purchase 32.83 BTC at an average price of over $104,000. Remixpoint doubles down on crypto efforts Meanwhile, Remixpoint announced that this additional purchase of Bitcoin is based on its board of directors’ resolution. Thus, it is separate from the 4.42 billion yen it plans to invest in Bitcoin from the proceeds of its 24th stock acquisition rights issuance. This clarification concerns the May 19 notice, where the firm stated its plan to raise 5.5 billion…
The post Japanese firm Remixpoint commits more capital to Bitcoin amid climb to $110k ATH appeared on BitcoinEthereumNews.com.
Remixpoint, an energy consulting firm in Japan, has approved 1 billion Yen ($7 million) to purchase more Bitcoins. The Japanese firm disclosed this in its latest regulatory filing. According to the filing, Remixpoint has committed 12 billion yen, approximately $84 million, to crypto purchases since it decided to add crypto assets to its treasury. So far, the company has spent 10.5 billion Yen on acquiring cryptocurrencies. While it has now allocated more funds for Bitcoin, the announcement did not specify when Remixpoint will acquire the additional BTC, only noting that it would consider market conditions. It said: “The additional purchase of crypto assets this time will be Bitcoin, and the total purchase amount is expected to be 1 billion yen. The timing of the purchase will be determined based on market conditions.” Given that BTC is currently in the middle of a price rebound that has seen it gain 2% in the last 24 hours and rise to $109,000, the firm would likely plan for when there is a cooldown and drop in price so as not to buy at the top. Following the announcement, the firm’s shares on the Tokyo Stock Exchange increased by more than 5%, signaling the market’s positive reception to the development. Remixpoint made its last Bitcoin acquisition on May 15, when it spent 500 million Yen, around $3.5 million, to purchase 32.83 BTC at an average price of over $104,000. Remixpoint doubles down on crypto efforts Meanwhile, Remixpoint announced that this additional purchase of Bitcoin is based on its board of directors’ resolution. Thus, it is separate from the 4.42 billion yen it plans to invest in Bitcoin from the proceeds of its 24th stock acquisition rights issuance. This clarification concerns the May 19 notice, where the firm stated its plan to raise 5.5 billion…
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