Remixpoint Sells Altcoins for Bitcoin, Expects Only Loss from Dogecoin

Japan-listed Remixpoint reported selling four alternative cryptocurrencies (altcoins) on September 1, resulting in a significant gain for the company. However, one of these altcoins, Dogecoin, proved to be an exception and became the only losing bet for the firm.

The company sold 2.8 million DOGE at a value of around $234,000, which was roughly $21,000 below its fiscal-year opening book value. In contrast, Remixpoint made money from selling Ether, Solana (SOL), and XRP, generating gains of $379,000, $311,000, and $72,000 respectively.

Remixpoint sold all four altcoins on the same day and will now focus its cryptocurrency holdings in Bitcoin. The company still owns approximately 1,506 BTC, worth over $115 million at current prices.