Japan-listed Remixpoint exits altcoins for bitcoin after DOGE loss

Japan-listed Remixpoint sold ether, solana, XRP and Dogecoin. Remixpoint will now concentrate its crypto holdings in bitcoin. The company sold 2.8 million DOGE for about $234,000 on Sept. 1. The sale price was roughly $21,000 below the position's book value at the start of its fiscal year. The loss was measured against that opening book value rather than the original purchase cost. Ether produced a $379,000 gain. Solana produced a $311,000 gain. XRP produced about a $72,000 gain. The four positions produced a roughly $742,000 gain overall. The company sold all four altcoins on the same day. Remixpoint said it sold the tokens after reviewing market conditions and their risk-return characteristics. Registered Japanese crypto exchanges have traded DOGE since 2022. The Japan Virtual and Crypto Assets Exchange Association began publishing an official DOGE/JPY reference price this year. The reference price is published alongside prices for bitcoin, ether, XRP and solana. Remixpoint retains about 1,506 bitcoin worth more than $115 million at Thursday's prices. Bitcoin is the company's only remaining cryptocurrency.