How Japanese Firm Remixpoint Became the Willy Wonka of Crypto Investing!

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What to know:

  • Remixpoint splashed out 9 billion yen ($59 million) on cryptocurrency, mostly bitcoin, because apparently stuffing cash under the mattress isn’t trendy anymore. 💸
  • Their stock enjoyed a jolly good rally after Trump’s election—proof that politics makes strange bedfellows.
  • On Friday, however, the shares did a nosedive faster than Bertie Wooster evading Aunt Agatha. 📉

Remixpoint (3825), a Japanese energy consulting firm with one hand in consulting and the other rummaging in the crypto jar, has boosted its crypto holdings by a staggering 8,000% in just nine months! Dec. 31 marked the end of their frenzy, with nearly all of their 10 billion yen ($65 million) target spent faster than a Drones Club member running up a tab.

The Tokyo-based outfit fluffed up its balance sheets with 5.8 billion yen ($38 million) worth of crypto by the end of the year, a leap from the humble 68 million yen balance it showcased on March 31. While they’ve splurged 9 billion yen on mysterious internet money, cryptically dubbed the “next big thing” (last Thursday’s buzzword, don’t you know?), they haven’t disclosed the current state of their treasure chest. Suspicious, eh? 🤔

By trade, Remixpoint fancies itself an energy consultancy, but they’ve recently slid into the glittery world of cryptocurrency transactions. Naturally, the pivot to bitcoin (BTC) as a hedge against the Japanese yen’s unfortunate enthusiasm for depreciation has everyone chattering over their tea cups. Parallels are already being drawn with Metaplanet, a fellow Japanese firm that caused a stock market hullabaloo last April by diving headfirst into bitcoin like a flustered uncle into a swimming pool.

The company’s crypto buffet is overwhelmingly bitcoin-heavy but includes a smattering of ether (ETH), Solana (SOL), XRP, and—for comic relief—dogecoin (DOGE). One imagines a boardroom discussion where someone exclaimed, “Why not toss in the meme coin for good measure?!” 🐕

Lately, Remixpoint’s earnings report revealed a tidy profit of 1.35 billion yen, with an extra 658 million yen in unrealized gains from their crypto treasure trove. It seems November 2024 will usher in a new chapter where valuation gains and losses on crypto holdings join the revenue circus. 🎪

On a more dazzling note, the firm’s coffee-fueled crypto buying spree coincided with the rally in crypto prices sparked by Donald Trump’s surprise presidential win. These fresh winds of a presumably “friendlier regulatory environment” for all things crypto had Remixpoint’s shares flying high—a dizzying 360% surge, to be exact. 🚀

But alas, the narrative takes a turn! On Friday, Remixpoint’s shares took a 15% dip (sad trombone sound, anyone?), a stark contrast to the Nikkei 225 index’s modest drop of 0.79%. It appears not every shareholder was charmed by the company going full crypto pirate. 🏴‍☠️

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2025-02-14 13:08