Japanese Company Buys Millions of BTC and Altcoins, China Prepares to Study Crypto – Will Asia Propel the Bitcoin Bull Run?

2024-9-29 14:30

Buying millions in Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Avalanche (AVAX) as part of a strategic investment, Japanese listed business Remixpoint has made a noteworthy movement in the crypto market. Meanwhile, China is starting to investigate cryptocurrencies and their part in the worldwide digital economy concurrently. 

The timing of these events begs questions regarding the possible impact of Asia on the next surge in Bitcoin values.

Remixpoint’s Strategic Investment in Crypto

Remixpoint company revealed on September 26 intentions to buy 1.5 billion yen (about $10.55 M) worth of crypto. This project fits the company’s plan for diversifying its assets and controlling the risks connected to the devaluation of the yen. 

Japanese listed company Remixpoint has purchased BTC, ETH, SOL, and AVAX to achieve diversified investment, reduce the risk of yen depreciation, and optimize cash management strategies. The company announced a plan to purchase virtual currencies totaling 1.5 billion yen (about…

— Wu Blockchain (@WuBlockchain) September 29, 2024

Remixpoint revealed the quantities of BTC, ETH, SOL, and AVAX bought when confirming its transactions on September 27.

The purchase breakdown shows 64.4 BTC worth 600 million yen, 130.1 ETH at 50 million yen, 2,260.5 SOL at 50 million yen, and 12,269.9 AVAX at 50 million yen.

China’s Call for Crypto Research

While Remixpoint actively invests in crypto, China is taking a more cautious approach. Former vice minister of the Ministry of Finance Zhu Guangyao has advised the Chinese government to investigate cryptocurrencies and their global policy developments. 

China’s former vice minister of finance called for China to study the latest changes in cryptocurrencies and policy adjustments internationally, as it is crucial to the development of the digital economy. He mentioned Trump’s embrace of cryptocurrencies and the U.S. approval of…

— Wu Blockchain (@WuBlockchain) September 29, 2024

Speaking at a conference, Zhu talked on the need to realize the possibilities as well as the hazards that cryptocurrencies bring.

He cited the approval of 11 Bitcoin ETFs by the U.S. Securities and Exchange Commission and former U.S. President Donald Trump’s support of cryptocurrencies as major events China should pay great attention to. Zhu’s remarks coincide with a period when the Chinese government has kept a tight posture on mining and trade of cryptocurrencies.

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Read also: Could Ripple’s (XRP) Price Cross the $1 Mark Soon? Here’s the Outlook

Regional Dynamics and the Future of Bitcoin

The changes in China and Japan mirror different views on crypto across Asia. While China’s cautious approach indicates a growing curiosity about the worldwide change toward crypto, Remixpoint’s proactive investment demonstrates Japan’s changing embrace of digital assets.

The different strategies could have wider effects on the crypto industry, particularly because Asian countries are significantly involved in accepting and controlling digital currencies.

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The post Japanese Company Buys Millions of BTC and Altcoins, China Prepares to Study Crypto – Will Asia Propel the Bitcoin Bull Run? appeared first on CaptainAltcoin.

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