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Remixpoint Becomes First Japan-Listed Firm to Pay CEO Entirely in Bitcoin

Highlights:

  • The consulting firm has become the first company in Japan to pay its CEO fully in Bitcoin.
  • Bitcoin replaces stock as executive pay at Remixpoint due to insider trading laws that limit stock ownership.
  • Remixpoint aims to manage currency risk by holding cryptocurrencies in a volatile market.

Remixpoint, a consulting firm listed on the Tokyo Stock Exchange, has revealed that it has begun paying its CEO and president, Yoshihiko Takahashi, purely in Bitcoin. This announcement makes Remixpoint the first Japanese company that is publicly traded to use this form of payment. Takahashi took the initiative himself, as he wanted his personal and financial interests to be in line with the direction of the company and its decision to focus on Bitcoin and company shareholders.

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Takahashi stressed that this action is motivated by his focus on shareholders and corporate value creation. Shareholders had previously asked that the management of the company retain Remixpoint shares to connect executive compensation to the firm performance.

However, the company could not meet this request because of strict limitations around stock ownership for executives. As a result, it introduced Bitcoin payments as an alternative approach to create similar alignment. Remixpoint stated that this system will help leadership and shareholders share financial risks and rewards together.

Bitcoin Chosen as Alternative to Equity Under Trading Laws

Due to strict insider trading laws, Remixpoint executives are not allowed to hold the company’s own stock. The firm said these laws prevent management from fulfilling shareholder requests to own shares directly. Therefore, Remixpoint turned to Bitcoin as a substitute because its value often follows the company’s stock movements.

The company explained that paying its CEO in Bitcoin helps mirror the economic conditions faced by investors. This move helps the leadership stay financially connected to the company’s performance without breaking any trading laws. Takahashi also observed that this move supports his commitment to shareholder value. This compensation policy aligns with the wider crypto strategy of Remixpoint. The company has doubled down on its efforts with digital assets since last year.

Remixpoint started its digital asset plan in September last year. The company wanted to decrease its exposure to the yen and currency risk by having its reserves in cryptocurrencies. It has since developed a solid portfolio of digital assets in some of the leading tokens.

Crypto Strategy Continues as Remixpoint Expands Holdings

The company currently has approximately 1,051 BTC valued at approximately $114 million. It also possesses 901 ETH, 13,920 SOL, 1.2 million XRP, and 2.8 million DOGE. These investments reflect the Remixpoint strategy of diversifying its treasury and hedging against financial transitions.

Remixpoint previously owned a crypto exchange, BITPoint, which it sold to a securities group in 2023. Regardless of the sale, the firm carried on investing in cryptocurrency in its long-term strategy. On June 13, Remixpoint acquired 13.296 BTC at almost 200 million yen. In the meantime, other Japanese companies, such as Metaplanet, are still adding Bitcoin to their reserves. In its latest acquisition, Metaplanet, often referred to as Japanese MicroStrategy purchased 2,205 BTC, which increased its holdings to 15,555 BTC, valued at approximately $1.7 billion.

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