Japan-listed Remixpoint, Inc. recorded a loss on Dogecoin, in contrast to the profits it generated by selling some of its altcoin holdings. ETH, SOL and XRP all produced profits, and the company said it plans to concentrate its holdings in bitcoin going forward.
Japan-listed Remixpoint, Inc. recorded a loss after selling Dogecoin among its altcoin holdings. By contrast, it realized profits on Ethereum, Solana and XRP, recording total profits of approximately $742,000 across the 4 positions.
On 1 September, the company sold approximately 2.8 million DOGE for approximately $234,000, a price approximately $21,000 below the carrying value at the beginning of the fiscal year. ETH generated a profit of approximately $379,000, SOL approximately $311,000 and XRP approximately $72,000.
The loss on DOGE was calculated based on the value of the position held at the start of the current fiscal year, rather than its original purchase cost. All 4 altcoin positions were sold on the same day.
The company plans to concentrate its crypto holdings in bitcoin going forward. Remixpoint, Inc. still holds approximately 1,506 BTC, worth more than approximately $115 million based on Thursday's price.