Dogecoin becomes losing bet for Japan-listed firm Remixpoint as it sells altcoins for bitcoin
Japanese firm Remixpoint sold its holdings of Dogecoin and other altcoins to consolidate its crypto portfolio into Bitcoin. The company reported a net gain across its positions despite taking a loss on the Dogecoin sale.
Why it matters
The move reflects a broader trend of institutional investors shifting toward Bitcoin as a primary reserve asset amid market volatility.
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.
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