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Remixpoint Raises $215 Million to Triple Bitcoin Treasury Holdings
Tokyo-based Remixpoint has announced a significant funding of 31.5 billion yen (approximately $215 million) to triple its Bitcoin holdings. The company released an official statement on July 9, revealing the substantial investment.
According to the statement, Remixpoint will utilize the entire sum to purchase Bitcoin, further expanding its existing treasury. The funds were secured through the issuance of unsecured bonds and stock acquisition rights series, which represents the 25th iteration.
Notably, Remixpoint’s CEO, Takashi Tashiro, will now receive his full salary in Bitcoin. This decision comes after extensive discussions between him and shareholders. In a statement, the company emphasized its conviction in Bitcoin’s future prospects.
Remixpoint’s bold move aligns with the growing trend among Japanese firms embracing corporate Bitcoin treasury strategies. Earlier this year, the company shifted its focus to build a substantial Bitcoin reserve.
Interestingly, other Japan-based companies are also following suit. On July 8, Metaplanet acquired an additional 2,204 BTC, spending approximately $237 million in the process. As they explore buying a digital bank, their CEO stated that this expansion will support their expanding crypto-related operations.
In Europe, similar developments are unfolding. The Blockchain Group in France purchased 116 BTC on July 9, while Smarter Web Company in the UK added 226.42 BTC to their portfolio. These acquisitions underscore the growing presence of Bitcoin treasury companies worldwide.
However, not everyone is optimistic about this trend. James Check, lead analyst at Glassnode, voiced concerns regarding the oversaturation of new Bitcoin treasury firms. He noted that early gains might no longer apply to newer entrants in the space. Despite his warning, Remixpoint has chosen to ignore the sentiment and push forward with its expansion plans.
Remixpoint’s decision will likely contribute to the increasing total value of Bitcoin treasuries globally.
Source: coinchapter.com
