Nikolas Sargeant
Japanese energy consulting firm Remixpoint announced Tuesday that it will start paying its CEO and President entirely in bitcoin, saying it became the first Japan-listed company to do so. The groundbreaking compensation structure represents a significant milestone in corporate cryptocurrency adoption, as the Tokyo-listed company continues its aggressive digital asset investment strategy.
"By receiving compensation in Bitcoin, the company's leadership will share the same economic fate as" shareholders, according to the company's announcement. This move aligns executive interests directly with the firm's substantial Bitcoin holdings, which have grown exponentially over the past year. The decision comes as RemixPoint has transformed from a traditional energy and automotive consulting firm into one of Japan's most prominent corporate Bitcoin investors.
Remixpoint (3825), a Japanese energy consulting firm that decided to build up cryptocurrency reserves, boosted its holdings by more than 8,000% in the nine months ended Dec. 31 and is now close to having spent its target of 10 billion yen ($65 million). The company's Bitcoin-first approach has generated significant returns, with an unrealized gain of 658 million on its cryptocurrency holdings reported in recent earnings. The firm's aggressive accumulation strategy has seen it make substantial Bitcoin purchases, building a significant digital asset portfolio that now represents a core part of its business model. This radical compensation restructuring signals the company's long-term commitment to digital assets and positions it as a pioneer in cryptocurrency-based executive compensation within Japan's corporate landscape.
